Gold ETFs “steal the show” with record inflows
Gold ETFs drew record first-half inflows, as the metal’s price soared amid global uncertainty. The recent investment momentum may be slowing, but allocations are tipped to grow still further.
That the price of gold has leapt 25% in dollar terms this year comes as little surprise, given the prevailing global uncertainty. What really stands out about this rally is the huge part that exchange-traded funds played in it.
First-half flows into gold ETFs of 579.2 tonnes outdid the previous record set in the first six months of 2009, in the teeth of the global financial crisis (see graph below), according to a new report from the World Gold Council (WGC).
The first-half 20…
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