Silver, Gold ETFs See $1.7B Outflows In May

Exchange-traded funds’ silver holdings witnessed outflows worth about $1.72 billion in May 2011 as silver prices fell by 25% in three years, Reuters reports. Gold products also saw outflows of $10.31 billion in May.

Most of the decline took place at the beginning of May when the gold price reduced with a sell-off across the commodies space. The SPDR Gold Trust, the ETF Securities Gold Fund, the iShares Silver Trust and the ETF Securities Silver Fund (ex-US) have all witnessed a fall in their holding last month.

Click here for the story from Reuters.