Gold ETFs Experience Significant Outflows Amid Price Decline

According to BlockBeats, the gold ETF GLD witnessed a substantial outflow of $1.3 billion on Wednesday, marking the third-largest outflow on record. This follows a record inflow of approximately $1.9 billion last week. Consequently, GLD ranked as the third most traded ETF on Wednesday, based on data from Goldman Sachs. In addition, the gold miners ETF GDX saw an outflow of $200 million, representing the most severe single-day outflow in the past 12 months. Meanwhile, gold prices fell by 2.7% on Wednesday, marking the second-largest decline this year.