The world’s largest gold-backed exchange-traded fund, New York’s SPDR Gold Trust, said its bullion holdings dropped by 20.77 tonnes on Wednesday, its largest one-day outflow since August 2011.
The fall coincided with the largest one-day sell-off in gold in nearly a year, down 2.6 percent, after minutes from a U.S. Federal Reserve meeting suggested some members were questioning its ultra-loose monetary policy.
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Bangladesh Latest Buyer in Central Bank Gold Game
It’s a relatively small gold purchase, amounting to only 0.3 percent of last year’s 4,000 tonnes of demand, but Bangladesh Bank, the nation’s central bank, has stepped up to the yellow-metal plate with a roughly $400 million, 10-tonne purchase of gold from the International Monetary Fund (IMF).
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