Add lost momentum in exchange-traded funds to signs that growth in demand for gold is waning. After surging this year into March, ETFs backed by bullion are little changed the past few weeks, just as China reported the smallest increase in its central-bank gold reserves since the country started releasing monthly data last year. “Until recently, the weak demand in Asia was offset by strong inflows into the ETFs, but the dynamism here has also cooled perceptibly since mid-March,” Commerzbank AG said in a note Friday.
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