Positive inflows into gold ETFs continue for 9th week in a row
US investors lead the surge contributed over 50 per cent of investments last week, while Chinese and UK interests remain strong
Investments in gold exchange-traded funds (ETFs) have been on a positive trajectory for the ninth consecutive week, with inflows reaching $4.24 billion in the week ending September 18, according to the World Gold Council (WGC). The majority of this inflow, more than 50%, came from the US, amounting to $2.21 billion. US investors contributed positively for the first time in three weeks, with inflows totaling $4.36 billion.
China led the international inflows, with $9.244 billion. Investments in UK, China, France and Germany were also significant, while India's inflows grew by 67% in August. Despite gold prices hovering around $4,000 an ounce, the ETFs continue to show a bullish bias between $4,250 and $4,450 an ounce, as stated by Prithivraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd. The net inflows into gold ETFs have been $37.1 billion over the past nine weeks, with outflows amounting to $85.12 billion.
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