NEW YORK (TheStreet) -- With the bounce higher in gold prices, Will Rhind, head of U.S. operations at ETF Securities, tells TheStreet's Joe Deaux what he's seeing in relation to exchange-traded funds inflows and outflows.

The correlation between the price of gold and ETF outflows is becoming more obvious. Rhind said that as gold began to consolidate around $1,200 per ounce, the outflows began to stabilize as well.

With gold over $1,300 and holding at that price, the outflows may have slowed for good, he added.

While the outflows have begun to dwindle, that doesn't necessarily mean that inflows have picked up all that much. However, Rhind said this is at least a positive sign.

He added that physical buyers of gold never really went away, even during the selloff where gold reached as low as $1,179 per ounce. Also, short-sellers seem to be much less prevalent than they were a few months ago, with gold coming off one of its worst quarters ever.

Rhind also concluded that with the declining inventories at the COMEX, a lot of this price movement could probably be attributed to short-sellers covering their positions.

-- Written by Bret Kenwell in Petoskey, Mich.

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Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.