Gold ETFs log 13th straight week of net investor inflows
Gold ETFs just hit their 13th week in a row of people putting money in, even though gold prices have dropped more than 4% this month to $4,145 an ounce.
Last week alone saw $2.3 billion invested, with $479 million redeemed, leaving $1.91 billion in net positive inflows, with most of it coming from the US and China (clearly, investors are still big on gold despite the price dip).
US adds nearly $1B, China $498 million
US investors added nearly $1 billion last week, while China chipped in about $498 million. The UK was next with $237 million, but France actually pulled money out.
So far this year, Asia has put more into gold ETFs than Europe: $18.38 billion versus $17.62 billion.
With markets staying unpredictable and everyone watching for updates from the Federal Reserve, gold ETFs remain a go-to for anyone looking for some stability right now.