Rush of money into gold ETFs

|By:, SA News Editor

The SPDR Gold Trust (GLD +0.6%) saw 7.5 tons of new gold on Monday and the gold ETF sector as a whole had 8.5 tons, the largest single-day inflows since October 2012, says Commerzbank.

"On balance, gold ETFs have now recorded only marginal net outflows since the start of the year, meaning that this bearish factor has disappeared."

Gold continues to hold gains in morning trade, +0.6% and near its high for the year at $1,349 per ounce.

ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, GLDI, DGZ, AGOL, DGLD, TBAR, UBG, GLDE, GYEN, GEUR, GGBP