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Deutsche Bank Says 50% of Institutional SPDR Gold May Be Sold

Some 50 percent of the institutional holdings in the SPDR Gold Trust, the biggest gold- backed exchange-traded fund, may be sold after prices plunged this month, Deutsche Bank AG said.

About 50 percent of SPDR Gold is institutional, or about 20 million ounces, Deutsche Bank, citing Bloomberg data. Half of that may be sold as institutions switch to equities, according to the report. “In a worst case scenario, we could see another 5 million ounces of gold come of ETFs this quarter, it said.

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