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.

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