August 20, 2008 / 7:58 AM / 10 years ago

SPDR Gold Trust reports 1 pct outflow Aug. 19

LONDON, Aug 20 (Reuters) - SPDR Gold Trust, the world’s largest bullion-backed exchange-traded fund, said on Wednesday its gold holdings dipped just over 1 percent on Aug. 19, its first outflow in more than two weeks.

The trust (GLD) now has 651.37 tonnes of gold, its lowest holding in seven weeks, it said.

ETFs are trusts that issue securities backed by physical commodities, allowing investors to gain exposure to gold prices without counterparty risk.

ETF buying has represented a major source of demand for gold in recent years, but investors fear a sell-off of their gold holdings could have a significant impact on the price of spot gold XAU=.

Reporting by Jan Harvey; editing by Christopher Johnson

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