According Exchange Traded Gold, SPDR Gold Trust Gold Fund Trust sold 16.23 tonnes of gold yesterday 25/6, version 7 consecutive sold.
This is the biggest sell-off of trust funds in the world's largest gold over 2 months ago.
Since early this year, the fund sold a total of more than 381 tonnes of gold by the price of gold plummeted, erasing equivalent 32.4 billion worth of funds. Holdings of the SPDR Gold Trust fell to 969.5 tonnes, worth U.S. $ 39.85 billion, the lowest since 2/2009.
On the Comex August gold price closed yesterday 25/6 down 0.2% to $ 1,275.1 / oz, the second consecutive decline. The price is now only just above the minimum 2.5 years at $ 1,268.7 / oz record last week.
Gold prices under pressure yesterday as the dollar gained 5th consecutive session against key currencies, after consumer confidence data and orders U.S. durable goods exceeds forecasts.
Numerous investment bank has cut its forecast gold prices as Morgan Stanley, Goldman Sachs, Credit Suisse, UBS, HSBC ... reflects a gloomy outlook for the precious metal. In addition, Goldman Sachs predicted holdings of gold trusts will reduce down to a rate of about 1 million ounces (equivalent to over 31 tonnes) per month this year.
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