Weltgrößtes Gold-ETF: Abflüsse im SPDR Gold Trust halten an

Seit Jahresanfang beträgt der Wert der Nettoabflüsse im SPDR Gold Trust (GLD) bereits über 16,6 Mrd. USD:

Quelle: hardassetsinvestor.com

Quelle: hardassetsinvestor.com

SPDR Gold Trust nach Rekordabflüssen nur noch 4. größtes ETF

Der SPDR Gold Trust (GLD) hat die Spitzenposition unter den größten ETPs/ETFs der Welt bereits vor einigen Monaten abgeben müssen. Nach weiteren massiven (Rekord-) Abflüssen im April ist das weltgrößte Gold-ETF "nur" noch das 4. größte ETF am globalen Finanzmarkt. Seit Ende 2012 ist der Wert des GLDs aufgrund der Abflüsse und dem Sell-Off im Goldpreis um beachtliche 38% auf ca. 45 Mrd. USD gefallen.

Gold Fund GLD Slips To No. 4 On List Of ETF Giants

As gold slips, GLD drops another spot to No. 4 on the list of the biggest ETFs in the world.

Written by Olly Ludwig | May 22, 2013  

The SPDR Gold Shares (NYSEArca: GLD), the world’s biggest gold ETF, slipped to the No. 4 spot among the world’s biggest exchange-traded funds, the result of a sharp sell-off of gold and redemptions from GLD that began in the spring around the time of the Cyprus banking crisis..

Link: http://www.hardassetsinvestor.com/features/4828-gold-fund-gld-slips-to-no-4-on-list-of-etf-giants.html?utm_source=Twitter&utm_medium=HAIFeed

Quelle: bigcharts.com

Gold: Physischer Markt vs. ETF-Papiermarkt

Im April steht ein Rekordabfluss auf der Derivateseite (GLD/SPDR/ETPs) einem Multi-Jahreshoch bei den physichen US-Verkäufen (American Eagles) gegenüber. 

Im vergangenen Monat verlor das wichtigste, globale Gold-ETF (GLD) ca. 142 Tonnen Gold mit einem Gegenwert von rund 6,6 Mrd. USD. Dieser Outflow entspricht dem größten Monatsabfluss seit Auflegung des ETFs in 2004. Währenddessen stiegen die US-Münzenverkäufe in den ersten 4 Monaten in 2013 auf 502.000 Unzen an, was einer Steigerung von über 325% gegenüber dem Vorjahr entspricht.

Die Divergenz zwischen dem physischen Goldmarkt und dem ETF-Papiermarkt hat sich seit Jahresanfang kontinuierlich erhöht und erreicht im April ein neues Level. 

Gold ETF posts record outflow in April, US coin sales spike

In April, the SPDR Gold Trust posted a record monthly outflow in tonnage terms, by contrast, sales of American Eagle gold coins rose to their highest monthly tally since Dec 2009..

Link: http://uk.reuters.com/article/2013/05/01/gold-etf-coin-idUKL2N0DI1R720130501?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews

Auf Tagesbasis erreichten die Verkäufe bei den US-Goldmünzen im April sogar Rekordniveaus:

Quelle: zerohedge.com

Disconnect zwischen physischem Goldmarkt und ETF-Markt: Update

Dazu ein aktueller Gastbeitrag auf Zerohedge:

Guest Post: Physical Gold vs. Paper Gold: The Ultimate Disconnect

Submitted by Tyler Durden on 04/23/2013 21:29 -0400 - Submitted by Bud Conrad of Casey Research

How can we explain gold dropping into the $1,300 level in less than a week?

Here are some of the factors:

• George Soros cut his fund holdings in the biggest gold ETF by 55% in the fourth quarter of 2012.
• He was not alone: the gold holdings of GLD have contracted all year, down about 12.2% at present.
• On April 9, the FOMC minutes were leaked a day early and revealed that some members were discussing slowing the Fed $85 billion per month buying of Treasuries and MBS. If the money stimulus might not last as long as thought before, the "printing" may not cause as much dollar debasement.
• On April 10, Goldman Sachs warned that gold could go lower and lowered its target price. It even recommended getting out of gold.
• COT Reports showed a decrease in the bullishness of large speculators this year (much more on this technical point below).
• The lackluster price movement since September 2011 fatigued some speculators and trend followers.
• Cyprus was rumored to need to sell some 400 million euros' worth of its gold to cover its bank bailouts. While small at only about 350,000 ounces, there was a fear that other weak European countries with too much debt and sizable gold holdings could be forced into the same action. Cyprus officials have denied the sale, so the question is still in debate, even though the market has already moved. Doug Casey believes that if weak European countries were forced to sell, the gold would mostly be absorbed by China and other sovereign Asian buyers, rather than flood the physical markets.

My opinion, looking at the list of items above, is that they are not big enough by themselves to have created such a large disruption in the gold market..

Link: http://www.zerohedge.com/news/2013-04-23/guest-post-physical-gold-vs-paper-gold-ultimate-disconnect

Quelle: zerohedge.com

Update Gold Sell-Off & GLD Holdings: Rekordabflüsse aus ETFs

Dazu ein informativer Beitrag von Zeal LLC und ein Blick auf das 'Bigger Picture':

Investors Panic Selling of Gold GLD ETF

Apr 12, 2013 - 06:33 PM GMT - By: Zeal_LLC -  Commodities / Gold and Silver 2013

Gold has faced stiff headwinds lately as investors abandon alternative investments to chase record-high stock markets. Probably the most significant has been the major selling hammering the flagship GLD gold ETF. It has suffered such intense differential selling pressure that its custodians have been forced to dump enormous quantities of physical gold. What are the implications of this flood of new supply..?

Link: http://www.marketoracle.co.uk/Article39924.html

Quelle: zealllc.com

Quelle: zealllc.com