ETF reduces holdings of gold, silver, and platinum

On September 4th, according to data compiled by institutions, ETFs sold 41,094 troy ounces of gold on the previous trading day, bringing this year’s net reduction to 2.57 million ounces. Based on yesterday’s Spot price, this transaction is equivalent to $102.4 million. The total amount of gold held by ETFs has decreased by 3% this year to 83 million ounces. The holdings of the world’s largest gold ETF, SPDR Gold Shares, remained almost unchanged on the previous trading day. The fund’s total gold holdings are 27.7 million ounces, with a market capitalization of $69.1 billion. ETFs also sold 477,541 troy ounces of silver on the previous trading day, reducing this year’s net purchases to 16.3 million ounces. In addition, ETFs have been reducing their holdings of platinum for the sixth consecutive day, with a reduction of 516 troy ounces.