ICYMI - Gold backed ETFs recorded their 7th consecutive month of positive inflows
Via the World Gold Council overnight report
- gold-backed exchange traded funds recorded their seventh consecutive month of positive flows
- H1 of 2020 closing with a record US$40bn of net inflows
- gold ETFs added 104 tonnes in June
- taking global holdings to all-time highs of 3,621t
- "To put this strength of demand into context, H1 inflows are also significantly higher than the multi-decade record level of central bank net purchases seen in 2018 and 2019, and could absorb a comparable amount of about 45% of global gold production in H1 2020"
- The World Gold Council is the market development organisation for the gold industry. Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market.
Gold is just shy or $1,800 still: