From ETFs shedding $8.9 billion a month to attracting $18 billion! Many people ask: If central banks have been buying for 23 straight months, why is gold still falling? Because pricing power isn’t in buyers’ hands—it lies in how fast sellers act. Central banks make monthly purchases, buying a record 740,000 ounces in September; leveraged traders dump gold minute by minute, while ETFs shed $8.9 billion in a single month. But look at the numbers another way: central banks bought 345 tonnes in six months, while ETFs shed just 45 tonnes in their worst quarter—volume loses to speed. Here’s the turning-point signal: starting in August, the biggest seller switched sides, and $18 billion flowed back in, a record. The sellers have stopped dumping, while gold buyers never stopped. The spring is almost fully compressed. #XAU $XAU #NEARIntents用户付费超2900万美元