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Billion-dollar monthly boost in exchange-traded fund gold holdings offer ray of hope for downbeat metal

“In the third quarter, ETF holdings fell as prices suffered from a 4.8% decline, and as prices rose roughly 1.8% in October, ETF holdings climbed” writes Markets Commodities Reporter for marketwatch.com. In October, the global ETFs and similar products added 16.5 metric tons, bringing their holdings up to 2,346 metric tons.For now, moves in the U.S. dollar and real interest rates will continue to have the biggest influence on gold prices, he says.That’s contributed to a nearly 8% decline in gold prices year to date.
 
Source: marketwatch.com



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