World's largest gold ETF sees $900m in outflows in a single day

Investors have pulled almost $900m out of one of the world's largest gold ETFs in a single day, the biggest one-day outflow since August 2011.

The SPDR Gold Trust ETF - the largest physically backed gold ETF with a current value of over $63bn - recorded outflows of $897m on Tuesday, following a sharp fall in the price of gold. Commerzbank strategists in a Barron's report said the selling must be regarded as a "negative sign" for the gold price. "ETF investors have shown themselves to be unbothered to date by the reduction in the price of gold given that nothing much has changed in terms of how the yellow metal's long-term prospects are judged," Commerzbank said in the note. "If even ETF investors are now being caught up i...