SPDR Holdings at three and half year low.


Holding of SPDR Gold Trust, the world's largest gold backed exchange traded fund tumbled 1.6 percent to the lowest level since November 2009 at 1104.71 tonnes (35,517493.78 Ounces, Value USD 49,988,722,047.33).
"What we saw in the past few sessions was a lot of physical buying in the form of coins and bars but the ETF numbers are heavily down and we don't necessarily see a resurgence in demand from the ETF side any time soon," SP Angel analyst Carole Ferguson said.
"The strong response from physical market is a significant component impacting sentiment as well as an important reminder that this demand can offer support during times of weakness," UBS analyst Joni Teves said.
India, the world's largest gold consumer, next month celebrates Akshaya Tritiya, a key gold-buying festival, while the wedding season continues until early June. Indian parents give gold jewellery to their daughters at weddings.
-         From Reuters.

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