TURNING TIDE: Money flows into gold ETFs first time in 6 weeks

The Fed's decision to slow down its money-printing engine boosted the dollar and sparked a frenzy for US stocks that hit new all-time highs again today.

All the money flowing into bonds and equities and yield-producing assets have led to record-breaking withdrawals from commodities this year, particularly precious metals assets, but today there was a flicker of a turnaround, or at least a bottom, in the market.

Holdings of SPDR Gold Shares (NYSEARCA: GLD) – the world’s largest gold ETF by a wide margin – on Friday increased for the first time in more than six weeks.

In a classic case of bargain hunting, investors bought a net 5.4 tonnes of gold on Friday, the first increase in tonnage held in trust by GLD since the 2.1 tonnes inflow recorded on November 5, the only day that month that buyers topped sellers. Liquidation of gold-backed ETFs have been cited as a major factor in the fall of the gold price this year and most analysts expected outflows to continue into 2014 most analysts expected outflows to continue into 2014 and drive the price down further, marking Friday's positive as something of a surprise.

Read More: www.mining.com/turning-tide-money-flows-into-gold-etfs-first-time-in-6-weeks/