Gold ETFs hit seven-year high and it’s not just the virus

Bloomberg/Ranjeetha Pakiam/1-28-2020

“’Even if the coronavirus situation improves, there are good reasons to expect continued inflows into gold,’ said Nicholas Frappell, global general manager at Sydney-based ABC Bullion. Other factors remain, including the Fed’s growing balance sheet, low real rates, and a reluctance to ‘normalize’ policy at the Fed, the Bank of Japan and European Central Bank, he said.”

USAGOLD note: In other words “business as usual” for the central banks is good for gold . . .

Line chart showing gold ETF totals January 2020
Chart courtesy of Gold Charts R Us

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