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By Sumit Roy

The largest gold exchange-traded fund in the world, the SPDR Gold Trust (NYSEARCA:GLD), garnered investor inflows of $127 million on Thursday, the largest since March 19. It was also the first time investors added to their positions since that date, ending a remarkable string of redemptions spanning almost two months.

GLD Flows

Heavy outflows from GLD and other ETFs have contribued to gold's 15% decline since the start of the year. Such ETFs hold physical gold bullion; thus, when investors buy and sell, it can have an impact on actual prices for the yellow metal.

In recent years, inflows helped gold rise. Now we are seeing the flip side of that. Despite GLD's one-day inflow on Thursday, the fund has seen an aggregate outflow of $14.5 billion since the start of the year. Perhaps Thursday's inflow is an indication that the tide may be turning, or at least stabilizing. But it's much too early to make that call given the damage that has been done to investors' psyches.

Source: Gold ETF Sees Its Biggest And First Inflow In 2 Months