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Global ETF Gold holdings continue decline

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NEW YORK (Scrap Register): Outflows from global gold-backed exchange-traded funds occurred every day last week, said Commerzbank.

“After gold ETFs registered inflows of a good 70 tonnes in January, outflows since the start of February have totaled nearly 20 tons,” the bank added.

“Last year’s pattern appears to be repeating itself, in other words.” However, analysts said they expect good gold demand this week given the news backdrop.

In particular, market participants will be following the U.S.-China trade talks with interest, another vote in the U.K. parliament on a Brexit deal, and the risk of another government shutdown in the U.S.

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