• Most Popular
  • Most Shared

SPDR Gold Trust gold holdings slip 2.5 pct on July 23

Thu Jul 24, 2008 7:39am EDT

Stocks

   

LONDON, July 23 (Reuters) - The amount of gold held in the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust (GLD), fell 2.5 percent on Wednesday, the fund said on Thursday.

The fund, formerly known as StreetTRACKS Gold Trust, removed 16.86 tonnes of gold bullion on Wednesday to bring its total gold holding to 673.4 tonnes.

The trust's gold holdings have fallen by 32.19 tonnes over the last two days, representing nearly 5 percent of its total holding.

Spot gold prices have slid in recent days as falling oil prices, rising risk appetite and a firmer tone to the dollar dent the precious metal's appeal.

Spot gold XAU= touched a two-week low of $916.40 an ounce on Thursday, before climbing back to $924.60/925.60 an ounce at 1124 GMT, against $921.35/922.95 late in New York on Wednesday.

(Reporting by Jan Harvey; Editing by Michael Roddy)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets