$XAUT quotes $4,174; in the past 24 hours it slipped slightly by 0.31%. Price action has been capped within a tight $70 range between 4,141 and 4,217. The intraday high-low spread is less than $80—both buyers and sellers are grinding.
$BTC quotes 83,818. In the past 24 hours it has risen only 0.06%. The U.S. dollar index is moving sideways, and the 10-year Treasury yield hasn’t budged either. Real interest rates have provided no impetus to gold; the two markets are moving in sync, sideways.
In August, global gold ETFs saw a net inflow of $18 billion in a single month, the second-highest monthly record in history. Holdings climbed to 4,189 tonnes, a new all-time high. Meanwhile, China’s central bank (the People’s Bank of China) added another 20 tonnes in August, continuing without interruption for 22 straight months. Poland is on track to run above 90 tonnes cumulatively this year. The “long money” backstop line hasn’t broken.
Money flowing back and central bank purchases are powering the market in tandem—completely different from the one-sided selling by Western institutions earlier this year.
If 4,141 can’t be held, the market is set up for a catch-up decline. Only once it stands above 4,217 can investors start talking about a move toward 4,300. The whole market—both bulls and bears—has to defend the whole-number level around 4,200.
#八月ETF创纪录 #央行连月增持 #Gold
$BTC quotes 83,818. In the past 24 hours it has risen only 0.06%. The U.S. dollar index is moving sideways, and the 10-year Treasury yield hasn’t budged either. Real interest rates have provided no impetus to gold; the two markets are moving in sync, sideways.
In August, global gold ETFs saw a net inflow of $18 billion in a single month, the second-highest monthly record in history. Holdings climbed to 4,189 tonnes, a new all-time high. Meanwhile, China’s central bank (the People’s Bank of China) added another 20 tonnes in August, continuing without interruption for 22 straight months. Poland is on track to run above 90 tonnes cumulatively this year. The “long money” backstop line hasn’t broken.
Money flowing back and central bank purchases are powering the market in tandem—completely different from the one-sided selling by Western institutions earlier this year.
If 4,141 can’t be held, the market is set up for a catch-up decline. Only once it stands above 4,217 can investors start talking about a move toward 4,300. The whole market—both bulls and bears—has to defend the whole-number level around 4,200.
#八月ETF创纪录 #央行连月增持 #Gold
