GLD enjoys golden February
Victoria Hewitt-Marsh, News Editor
28 Feb 2014, 2:26 p.m.
The world’s largest physically backed exchange traded fund SPDR Gold Shares (GLD) posted gains of more than 5% in February and saw positive inflows for the first time in 13 months. According to the World Gold Council GLD added 10.5 tonnes of gold in February and finished the month with a total holding off 803.7 tons.
Will Rhind Managing Director of the World Council cites strong physical demand from both Chinese consumers and the Chinese central banks for gold’s strong performance in 2014, and believes gold can continue to perform well in a low interest rate environment.