Investor gold demand slows threatening price advance
“The rapid accumulation of gold by investors as the coronavirus crisis erupted earlier this year has slowed, threatening the record-breaking rally in prices of the precious metal.”
USAGOLD note: Is it not understandable – perhaps even a sign of good health – that a market might take pause after rising 33% over a six month period? We agree with the last analyst quoted in this article that “after the election, if gold starts making new highs, you will see fresh and sizable inflows back into gold ETFs” (the favored vehicle among funds and financial institutions). In fact, that flow could begin well before the first Tuesday in Novermber.
Chart courtesy of TradingView.com • • • Click to enlarge