GLD Gold ETF Sees Record $14.4B Outflows Since March
The largest US gold-backed ETF, GLD, has recorded $14.4 billion in outflows since March 1 — 50% more than the total outflows from all Bitcoin ETFs since October. March saw an all-time monthly high of $8.5 billion in withdrawals.
The SPDR Gold Trust (GLD) has seen a massive $14.4 billion in outflows since March 1, according to data cited by The Kobeissi Letter. This figure is 50% higher than the $9.6 billion withdrawn from all spot Bitcoin ETFs since their October peak.
Monthly breakdown shows March as the worst, with $8.5 billion in redemptions — the largest monthly outflow on record. April followed with $1.7 billion, May with $872 million, and June with $3.2 billion. July outflows have slowed sharply, tracking just $46 million month-to-date.
The data raises the question of whether the gold market is positioning for a rebound after the sustained selling pressure.
Source: The Kobeissi Letter