Holding in SPDR Gold Trust falls to 1213 tonnes

MUMBAI, Mar 15 (Commodity Online): The world's largest gold backed exchange traded fund, SPDR gold trust said its holding fell to 1,213.655 tonnes against the previous stock of 1,215.475 tonnes seen on Mar 11. The world's largest silver backed exchange traded fund SLV, said that its holdings rose to 10,974.06 tonnes against the previous stock of 10,913.32 tonnes seen on March 8. On the International front, the recent earthquake and tsunami that caused heavy devastation in Japan has intensified worries over the global economic growth. The European debt worries remained even after the leaders of European Union expanded the scope of operations with 440 billion euro bailout funds which could be used to support nations as well as to buy bonds directly from the government. Amid, all the worries over the global economic growth, European sovereign crisis along with the persistent geopolitical tension in Middle East, investors are constantly betting on bullion assets to protect their wealth.