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SPDR Gold Shares holdings rise to record 724.94 T

Wed Sep 24, 2008 2:38am EDT

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LONDON, Sept 24 (Reuters) - The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust (GLD), said its gold holdings rose another 2 percent on Sept 23 to a record 724.94 tonnes.

The trust has seen its holdings increase by 18 percent or more than 100 tonnes since Lehman Brothers filed for bankruptcy protection on Sept 15.

Buying of gold for ETFs, which issue securities backed by physical stocks of a commodity, has been a major source of demand for the precious metal in recent years.

(Reporting by Jan Harvey; Editing by William Hardy)



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