Paper gold trade is now bigger than ALL of Germany’s reserves ...United Arab Emirates

The price of gold exchange-traded funds (ETFs) steadied on Tuesday at the equivalent of $1,733 per ounce after retreating on the news of a potential coronavirus vaccine by drug maker Moderna. Gold ETFs are not equal to physical gold, as they are simply securities backed by the commodity designed to track the gold price. Gold bullion, which hit an eight-year high just before the news, lost $40 per ounce for US dollar traders by the start of Tuesday’s London trade. It has also dropped over two percent from new all-time highs in British pound and euro currency terms. “Gold sold off on upbeat trader attitudes after the Moderna news of a po

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Paper gold trade is now bigger than ALL of Germany’s reserves ...United Arab Emirates

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