ETF Bullion Holdings Hit Record As Investors Go Gold Crazy .... Forbes magazine
In September, gold-backed ETFs and similar funds snapped up an extra 75 metric tons of the metal worth almost $4 billion, according to a report published Tuesday by World Gold Council. .... September’s inflow came primarily from investors in North America, where 62 tons of the metal got added. Investors in Europe and Asia purchased eight and four tons, respectively. .... The trigger that gave investors some fever was concerns over how central banks, such as the Federal Reserve, might change the cost of borrowing money. ..... "Weak data in the US, Fed easing and further declines in real rates are supportive for gold," states a recent research report from Swiss bank UBS. The less-than-robust data to which it referred was the drop in the ISM manufacturing survey to its lowest level in 10 years.
https://www.forbes.com/sites/simonconstable/2019/10/08/etf-investors-went-mad-for-gold-in-september/#ad7ca82385f6
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