Data: Gold ETFs saw net outflows of $1.3 billion on Wednesday, the third-largest outflow ever

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According to ChainCatcher and The Kobeissi Letter, the gold ETF GLD experienced an outflow of $1.3 billion on Wednesday, marking the third-largest recorded fund outflow. The fund had set a record last week with daily inflows of approximately $1.9 billion. As a result, based on Goldman Sachs data, GLD became the third-largest traded ETF on Wednesday.

Additionally, the gold miners ETF GDX saw an outflow of $200 million, which is the most severe single-day outflow in the past 12 months.

Meanwhile, gold prices dropped 2.7% on Wednesday, representing the second-largest decline this year.

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