HSBC: If more outflow of gold ETF will enter a new round of fall

HSBC (HSBC) that the gold market is still very fragile.

HSBC rose said a report by gold ETF large outflow, on Tuesday (December 23) the same day, sharp outflow of 11 tons in SPDR gold ETF, which is the largest outflow in a single day since July 2013.

since then, the SPDR gold ETF on Friday shed 0.6 tonnes, currently holding at 712.3 tons, which is the lowest level since September 2008.

analysts at HSBC said ETF flows once again indicated in the gold market, ETF holdings fell remained a risk.

"If ETF investors more exiting, then gold will be a round of down. "

but HSBC analysts also believe that the deals during the holidays, the ETF will no longer appear substantial outflows, this bearish factors so it is also worth discussing.

"gold ETF holdings once again become bearish factor, will be appear again until after the new year. "

HSBC said investors interest in the SPDR gold ETF and gold reappears, you demand a new regional conflict, or a major rebound in crude oil prices. However, the situation at present is not so appear, so gold will continue to face difficulties.

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