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$600 million flowed out of GLD last week, but here's the bigger picture

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(Kitco News) - A shift of sentiment last week to a more risk-on appetite by investors led to some selling of safe haven vehicles, including $600 million of GLD, the world’s largest gold-backed ETF, but in the larger picture, holdings of gold ETFs have still increased, said George Milling-Stanley, Chief Gold Strategist of State Street Global Advisors.

“Let’s put all of this into context, including that $600 million outflow that we saw last week. GLD has nevertheless, in terms of assets under management, grown $5.5 billion in the year to date,” Milling-Stanley told Kitco News.

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