Investor holdings in the Goldessential monitored gold-backed exchange-traded funds were seen decreasing 19.807 tonnes (636,800 ounces) or 1.21 pct in the week from December 3rd up to and including December 10th, in-house calculations based on official data showed on Friday.

Four of the ten monitored ETF’s announced an outflow over the reported period, whereas one reported a physical inflow. Five reported “no change”, although one announced a small decline that did not represent an actual physical flow. Additionally, holdings in the Claymore Bullion Trust (*) – which is one of the two funds not included in our weekly analysis on a standard basis, were gaining 3,000 ounces or 0.09 tonnes (+0.42 pct) in the week up to December 10th.

Holdings in the Swiss ZKB Physical Gold ETF – the second of the funds not included in the weekly analysis on a standard basis - were declining 37,819 ounces or 1.18 tonnes in the week to December 3rd, the latest ZKB update showed.

Considering the ETF’s under our standard scope of analysis, we see that the largest outflow in absolute numbers was seen in the SPDR Gold Trust, where holdings were seen dropping 490,094 ounces or 15.24 tonnes (-1.35 pct) over the reported period, which covered the entire correction in prices from above $1,210 down to below $1,120 an ounce. Holdings in the Swiss based Julius Baer Physical Gold ETF dropped 79,200 ounces or 2.46 tonnes (-3.83 pct) over the monitored interval, followed by a 39,233 ounces or 1.22 tonnes (-1.47 pct) drop in the COMEX Ishares Gold Trust.

The ETF Securities marketed and in London-listed Gold Bullion Securities (GBS) reported a decline of 34,823 ounces or 1.08 tonnes (-0.84 pct). The only increase in gold holdings on behalf of investors was noted in the equally by ETF Securities marketed ETFS Metal Securities trust (PHAU), where 6,682 ounces or 0.21 tonnes (+0.20 pct) were seen added.

All other - non-discussed - monitored ETF’s reported no changes over the given interval, apart from the South-African NewGold, which announced a small decline of 132 ounces which was due to an internal revision. Jointly, the ten monitored gold-backed exchange traded funds (excluding (1) and (2)) as such fell 1.21 pct over the latest week, reversing the prior week’s 0.30 pct advance, and backing away from record highs. The drop also broke a four week gaining streak and marked the most negative - in terms of absolute declines - since September 2008. In terms of percentages, the drop was the strongest since October 2008.

Total monitored holdings (excluding (1) and (2)) were now at 1,612.73 tonnes, below last week’s record high of 1,632.54 tonnes. Grand total monitored holdings (including (1) and (2)) were at 1,784.14 tonnes, below last week’s record high of 1,805.00 tonnes.

On a rolling month basis, the best performance (in percent) was seen in the Central Fund of Canada (+8.38 pct). On the second place stood the COMEX Ishares Gold Trust (+2.45 pct). The third place was for the by ETF Securities marketed ETFS Metal Securities Australia (+1.83 pct). The Julius Baer Physical Gold ETF did the worst over the rolling month, with holdings down 6.23 pct, followed by the by ETF Securities marketed Gold Bullion Securities (GBS) (-1.81 pct).

Courtesy: www.goldessential.com

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