spdr gold holdings
posted on
Dec 30, 2009 07:50AM
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SPDR Gold Trust gold holdings are back to just below the record level of 1,134 tonnes last seen at the beginning of June
Author: Lawrence Williams
Posted: Wednesday , 30 Dec 2009
LONDON -
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The recent relative weakness in the gold price seems to have led to increased investment in the world's biggest gold ETF - SPDR Gold trust - with the ETF's gold holdings back only a fraction below the record of 1,134.03 tonnes recorded at the beginning of June. The latest figure reported, as of December 29th, shows holdings at 1,133.622 tonnes - just 0.4 tonnes off the record.
The ETF's holdings had fallen from a little over 1,131 tonnes in early December as gold reached its record highs of over $1,220 an ounce back down to 1,116.5 tonnes as investors took profits at the top of the market, but the recent price falls down to below $1,100 an ounce have generated renewed interest from those who feel the recent price dip has, perhaps been overdone. There is also obviously still strong interest also from those who remain nervous about the overall state of the U.S. and other Western economies, and the perceived fragility of the dollar, and thus still see the yellow metal as a safe haven investment and are expressing confidence in gold's future performance.
Gold holdings by the SPDR Gold Trust over the past month are as follows:
Date: Tonnes
Dec 29 1,133.622
Dec 21 1,132.708
Dec 18 1,126.611
Dec 16 1,120.514
Dec 14 1,116.551
Dec 8 1,116.247
Dec 4 1,129.966
Dec 3 1,131.490
Dec 2 1,131.214
Dec 1 1,130.604
Nov 30 1,129.994