Gold ETFs experienced significant outflows in March as investors booked profits from the precious metal's recent rally, despite ongoing geopolitical tensions.
Last month, investors withdrew more than $12 billion from the world's two largest gold ETFs, theSPDR Gold Trust (NYSE:GLD)andiShares Gold Trust(NYSE:IAU), both of which lost $8.5 billion and $3.7 billion, respectively, as per data fromEtf.com. The selling coincided with a more than 11% drop in gold prices during the month, suggesting a wave of profit-taking as prices retreated from recent highs.
ETFs Become Exit Route For Investors
The magnitude of the outflows...
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