Gold prices are poised to climb toward $2,900/oz as small investors increasingly turn to gold-backed ETFs, driven by geopolitical uncertainty and the start of an interest rate-cutting cycle. After a 59% rise over two years, gold is attracting attention from retail investors who fear missing out (FOMO).
ETFs have seen a resurgence, reversing earlier outflows. North American investors are leading this trend, with inflows of 17.2 tons in August alone, contributing to a global total of 3,181.7 tons in ETFs—third only to the U.S. government's gold reserves.
With ongoing geopolitical tensions and falling interest rates, ETFs are expected to continue driving gold prices higher.
Sources:
Small Investors Join The Gold Rush Via ETFs With $2900/oz In Sight, Tim Treadgold,Forbes, Sept 16 2024
Comentários