Gold Rebounds From Worst Week in Years on ETF Bargain Hunting
- Holdings of gold-backed ETFs rise to highest level since 2013
- Goldman sees buying opportunity at prices below $1,250
Morning Meeting: Gold's U.S. Election Volatility
This article is for subscribers only.
Gold futures rebounded from the biggest weekly drop in more than three years as investors jumped into exchange-traded funds backed by the metal, lifting global holdings to the highest since 2013.
Holdings of ETFs backed by gold rose by 9.1 metric tons to 2,046.4 tons on Friday. Assets in SPDR Gold Shares, the world’s biggest gold ETF backed, surged to the highest since mid-August.