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Growth in gold ETFs in August was biggest since 2013
All those investors shooting themselves in the foot, facilitating the shorting of what they want to rise in price.
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Investors Rush Into Gold
By Ranjeetha Pakiam
Bloomberg News
Monday, September 2, 2019
Investors are going for gold in a big way. Inflows into bullion-backed exchange-traded funds topped 100 tons in August to hit the highest since February 2013 as the trade war worsened, risk assets took a knock, and central banks signaled looser monetary policy.
Holdings rose 101.9 tons, bringing total known assets to 2,453.4 tons as of Friday, according to data compiled by Bloomberg. It was the third straight monthly increase after the addition of a combined 154.1 tons in June and July.
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Bullion has been on a tear, gaining 19% this year, as the global outlook worsened on the standoff between the U.S. and China. Central bank buying has provided another layer of support, and Goldman Sachs Group Inc. says prices are likely to advance further as official purchases continue and demand for ETFs rises. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2019-09-02/gold-etfs-surge-more-...
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