Investors just fell out of love with gold in a big way. The US equity exchange-traded fund that experienced the largest withdrawals last week was the $10.3 billion VanEck Vectors Gold Miners (GDX), the biggest ETF that invests in gold-mining companies. The SPDR Gold Shares ETF (GLD), the world's largest commodity ETF at $34.8 billion, also saw the most outflows among commodity funds in the period ending April 28. “GDX is a leveraged play on gold,” said Eric Balchunas, ETF analyst at Bloomberg Intelligence. “This is like playing a game — everyone ...
Biggest gold miner ETF just saw largest outflows on record
Investors yanked $778 million from VanEck Vectors fund and $217 million from SPDR Gold Shares ETF
Luke Kawa |