Reported 17 days ago
According to the World Gold Council (WGC), global gold exchange-traded funds (ETFs) recorded their first positive year-to-date inflows this October, marking six consecutive months of inflows driven by North American and Asian investments. Rising geopolitical tensions and market uncertainties have led investors to seek safety in gold ETFs, attracting $4.3 billion in October alone, which has increased total gold holdings to a record 3,244 tons. This reversal comes after three years of outflows, as gold prices have surged 33% this year, highlighted by a record high of $2,790.15 per ounce at the end of October.
Source: YAHOO