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.