by Jan Skoyles, TheRealAsset.co.uk
Friday’s stronger than expected jobs report saw the gold price fall on Friday afternoon and continue to do so into this morning. The fall comes as fears the Fed may soon begin tapering come after the US non-farm payrolls data was reported at 195,000, 165,000 had been expected.
Holdings in the world’s largest gold backed ETF, the SPDR gold-trust fell to a four year low on Friday, to 961.99 tonnes, following the jobs report. It is worth reminding those worried about this apparent decline in gold investment that gold-backed ETFs represent only around 6% of gold demand.
Global gold investment
Despite what appears to be bearish signal in macro-economic data, the desire to buy gold, physical gold, remains strong across the world.
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