truthingold.com / By truthing / August 12, 2013 at 07:22
Gold climbed to the highest level this month after holdings in the biggest bullion-backed exchange-traded product expanded for the first time since June. Platinum advanced for a fourth day to a two-month high.
The precious metal tumbled 21 percent this year as speculation that the U.S. Federal Reserve may taper its stimulus program prompted record outflows from ETPs. Assets in the SPDR Gold Trust increased 1.8 metric tons to 911.13 tons on Aug. 9, the first increase since June 10, according to data compiled by Bloomberg. Holdings are still down 439.69 tons this year after contracting every month from January, the data show.