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| A non-performing ETF |
From Bloomberg.com
Gold holdings in exchange-traded products are growing at a slower pace than in 2004-2009 because some investors may be moving to physical bullion after initial purchases of an exchange-traded fund, according to Barclays Plc.
The following are comments from Cengiz Belentepe, head of industrial and precious metals trading at Barclays. He spoke in an interview Oct. 10:
“We’ve seen instances of people coming in, whose first step is to buy an ETF, second step is to get educated on how the market works, third step -- I’m going to shift this in direct gold purchase and storage, fourth step -- let me allocate this metal into these locations. It’s the early step they are all migrating through, expressing the same view but in different ways.”
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