Gold News

Attraction of Gold Investment highlighted by ETF successes

The growth of Gold Investment has recently been highglighted by news that gold exchange traded funds (ETFs) attracted strong flows in 2009.

According to GFMS Analytics' Rhona O'Connell, writing for Mineweb.net, cumulative ETF daily investment flows in the US and Canada have netted out at $16.9 billion for 2009.

While the full yearly figures are not yet available, compiled data indicates that the combined value of the gold held in trust to back the value of shares traded in North American ETFs stands at $61.3 billion.

This equates to a yearly increase of 84 percent and represents an increase of 565 tons. It also shows a net Gold Price rise of $213 per ounce.

It was recently revealed that investors Buying Gold have put large amounts of money into ETFs and could carry on doing so as the precious metal continues to perform.

William Rhind, strategic director at ETF Securities USA, told Barrons Online: "There has been a gradual appreciation in assets through high prices and low prices."

He went on to say that the situation had arisen as a result of investors buying gold as a "long-term strategic asset" and, as such, were not looking to immediately sell.
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