(Bloomberg) -- Global shares may be basking in the afterglow of Wall Street’s rally on Wednesday but gold bulls just took a chance to add to substantial positions in bullion-backed exchange-traded funds as U.S. stocks fought back.
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On the same day that the Dow benchmark put on more than 1,000 points, worldwide holdings in gold-backed ETFs swelled 20.6 tons to 2,207.8 tons, the most since June. That was the biggest percentage climb since July 2017.
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On Thursday, as investors weighed the outlook for 2019, spot bullion was 0.2 percent higher at $1,269.02 an ounce, according to Bloomberg generic pricing.
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