Positive inflows into gold ETFs continues for eighth week in a row
Data from the World Gold Council (WGC) showed that investments were net positive at $1.55 billion last week despite the volatile precious metal market
Positive outflows into gold ETFs continue for eighth week straight, as investments remain net positive, according to data from the World Gold Council. Inflows were $1.55 billion last week, while $4.02 billion were invested in the week ending September 4, and $3.99 billion in the week ending August 28. Meanwhile, outflows totaled $681.8 million last week, $1.10 billion in the week ending September 4, and $1.51 billion in the last week of August.
The precious metal's price has been volatile, jumping from around $4,000 an ounce in early August to over $4,700 near month's end, before falling to $4,200. Gold currently stands at around $4,300. Analysts predict gold may stay volatile due to factors like a strong dollar, crude prices, and expectations around US interest rates, but the broader outlook remains supportive due to geopolitical uncertainty, central-bank demand, and gold's safe-haven appeal.
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