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Investors in ETFs to Hedge Funds Bail on Gold as Equities Rally

  • SPDR Gold withdrawal reaches $2.27 billion, most since 2013
  • Money managers pare bullish bets to smallest since February
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OCBC's Gan: Have a Bearish Base Case for Gold in 2017

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Investors just keep bailing on gold.

In December, $2.27 billion was pulled out of SPDR Gold Shares, the world’s largest exchange-traded fund backed by the metal. That was a third straight monthly loss and the biggest since May 2013. Money managers have also turned less bullish on bullion, cutting their net-long positions for a seventh straight week to the smallest since February, U.S. government data showed Friday.