ETF Gold Holdings Hit Record Says World Gold Council
January 20th, 2009
Gold held by exchange-traded funds reached a record level in 2008, as investors bought the metal as a safe haven against economic troubles, the World Gold Council said Tuesday in a report.
At 1,190 tons, ETF gold holdings are now higher than central bank holdings in Switzerland, the fifth last official gold holder in the world. Investors bought ETFs representing 96 tons of gold in the fourth quarter, following the purchase of an unprecedented 145 tons in the previous quarter, the WGC said.
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