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As on November 16, the holdings of physically backed gold ETFs rose to a record high of 75.421 mn ounces suggestive of unabated investment interest.

19 Nov 2012

NEW YORK (Commodity Online): US Gold futures has climbed above $1722 on Monday electronic trading after witnessing a fall last week but holdings of gold backed exchange traded funds (ETFs) continue to rise to record levels.

As on November 16, the holdings of physically backed gold ETFs rose to a record high of 75.421 mn ounces suggestive of unabated investment interest.

The World Gold Council (WGC) in its 3rd quarterly report of 2012 pointed out that jewellery and investment demand had fallen this year but inflows into ETFs remained very strong. Demand for ETFs and similar products in Q3 was up by 56.0% on the previous year to 136.0t.

Speculators raised their net long bets in U.S. gold in the week ended Nov. 13 from the lowest level in about three monthshit a week earlier, the U.S. Commodity Futures Trading Commission said.


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