Gold-backed ETF SPDR Gold Trust -- commonly known as ticker GLD -- witnessed outflows of 4.19 tons on Wednesday, the largest drop in two weeks. State Street Global Advisors head of ETF Research David Mazza tells TheStreet's Joe Deaux that many investors are still reallocating in the gold-backed ETF space, which tumbled in 2013. While the Federal Reserve announced that it will further scale back economic stimulus, Mazza says that other factors are influencing inflow and outflows into gold ETFs.

More from Video

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

3M's Chief Science Advocate on Advancing Healthcare, Autos and Young Scientists

3M's Chief Science Advocate on Advancing Healthcare, Autos and Young Scientists

Listen: Should You Buy Cisco Now?

Listen: Should You Buy Cisco Now?

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

It's Dumb to Think There Aren't Already Monopolies in Big Tech

It's Dumb to Think There Aren't Already Monopolies in Big Tech