$2.6 billion flowed into gold ETFs in July, says World Gold Council
“Gold ETFs have been a shining through a gloomy market as investors poured billions of dollars into this asset category in face of rising uncertainty. According to the World Gold Council, investors funneled $2.6 billion into gold bullion-backed ETFs in July, raising their collective holdings to 2,600 tons, or the highest level since March 2013, the Wall Street Journal reports.”
USAGOLD note: Most of that flow came from funds and institutions . . . There is considerable capital afloat looking for a safe place to dock which should auger well for the precious metals as we move into the Fall investment season. That 2600 tonnes, by the way, is the fourth largest stockpile on the planet behind the United States, Germany and the International Monetary Fund.