Biggest gold ETF sees $124 million trade

One investor traded 1 million shares worth $124.5 million in the SPDR Gold Shares fund, known by its ticker GLD, the largest single intraday block trade for this fund since January 10.

Gold prices have been volatile, dipping since mid-May as the US dollar has strengthened amid signs of a stabilising global and US economy. Earlier this week, US Federal Reserve officials left interest rates unchanged, but noted that inflation is close to target, without indicating any intention to veer from their gradual tightening of monetary policy.

GLD is the largest exchange-traded fund tracking the commodity with more than $36 billion in assets. The fund saw about $1.1 billion of inflows in April, the most since September.

Since then, investors have yanked about $236 million worth of bets.