July 1 (Bloomberg) -- Gold demand exceeded sales by the smallest margin in four years last month as higher prices spurred some investors to reduce their holdings.
BullionVault’s Gold Investor Index fell to 51.2, the lowest since February 2010, from 52.4 in May, the London-based company said today. Readings greater than 50 signal more buyers than sellers. Gold climbed 6.2 percent to $1,327.33 an ounce in June, the biggest monthly advance since February.
“Sentiment towards gold amongst the investing public has scarcely been lower,” Adrian Ash, head of research at BullionVault, said in the report. “Last month’s price jump through $1,300 per ounce deterred new buyers and also saw a sharp rise in the number of sellers.”
BullionVault customers owned 32.8 metric tons of gold at the end of June, the most since March 2013 when holdings peaked at 33 tons, it said. Silver holdings were “flat” after climbing to a record 462 tons in May.