$PAXG
š“ A major gold demandā¦ global funds add $18 billion in one month
The World Gold Council announced today that gold-backed investment funds recorded inflows of $18 billion during August, led by funds in North America and Europe.
More important than the amount of money itself:
š These fundsā holdings increased by about 121 tons within one month, reaching a new record level of 4,189 tons of gold.
At the same time, the total value of assets inside gold funds rose 16% during August and reached roughly $615 billion.
That matters because weāre not talking here about one central bank buying
Weāre talking about broad global investment flows entering gold through funds.
ā ļø And the strongest part is that this happened despite high returns and fears of rate hikes.
Meaning part of investors still believes gold deserves its place in portfolios even in a high-interest-rate environment.
The most important takeaway:
Demand for gold isnāt coming only from central banks
Central banks are buying, funds are buying, and global holdings have reached record levels.
This is one of the strongest structural factors that make any gold correction different from corrections of past years.
š“ A major gold demandā¦ global funds add $18 billion in one month
The World Gold Council announced today that gold-backed investment funds recorded inflows of $18 billion during August, led by funds in North America and Europe.
More important than the amount of money itself:
š These fundsā holdings increased by about 121 tons within one month, reaching a new record level of 4,189 tons of gold.
At the same time, the total value of assets inside gold funds rose 16% during August and reached roughly $615 billion.
That matters because weāre not talking here about one central bank buying
Weāre talking about broad global investment flows entering gold through funds.
ā ļø And the strongest part is that this happened despite high returns and fears of rate hikes.
Meaning part of investors still believes gold deserves its place in portfolios even in a high-interest-rate environment.
The most important takeaway:
Demand for gold isnāt coming only from central banks
Central banks are buying, funds are buying, and global holdings have reached record levels.
This is one of the strongest structural factors that make any gold correction different from corrections of past years.
