The weakening trend in gold prices is reflecting in gold ETFs as well with major US based ETFs moving downward from their 2012 highs.
The demand for gold ETF is falling while serious gold bullion investors look for physical gold coins and gold bullion, says Michael Lombardi, leading contributor for financial newsletter Profit Confidential.
ETF/ETN net cash inflows totaled approximately $3.0 billion for the month of April 2012, bringing year-to-date net cash inflows to $58.9 billion.
Global exchange-traded-product holdings of all precious metals but palladium fell last month, said Barclays Capital in a daily commodity research note.