Gold ETFs See $1.3 Billion in Net Outflows This Wednesday, Third Largest Ever
On April 27, according to The Kobeissi Letter, gold ETF GLD saw $1.3 billion in outflows on Wednesday, the third-largest outflow on record. The fund set a record last week with daily inflows of about $1.9 billion. As a result, GLD became the third most traded ETF on Wednesday, according to Goldman Sachs.
In addition, GDX, the gold miners’ ETF, saw $200 million in outflows, the worst single-day outflow in the past 12 months.
Meanwhile, gold prices fell 2.7% on Wednesday, the second-largest decline of the year.