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European investors pour nearly $1bn into gold ETF in July


Financial Times/Alex Hamer and Emma Boyde/8-10-2021

“’Gold is currently in transition,’ said Mobeen Tahir, associate director of research at WisdomTree in Europe, which manages a range of gold exchange traded products.”

USAGOLD note: We missed this article when it was first posted on the FT website on August 10th. Under the radar, inflows into European gold ETFs jumped dramatically in July even as American ETF stockpiles declined. Theoretically, one analyst points out, American investors are buying into the Fed mantra that inflation is transitory. Funds and institutions are the leading buyers of ETF, so perhaps European money managers see inflation and the Delta variant as bigger problems than their American counterparts. In recent years, as shown in the accompanying chart, ETF inflows and outflows have closely coincided with ups and downs in the gold price. So……Is European institutional interest leading the market? Time will tell.

overlay line chart showing the correlation between ETF stockpiles and the price of goldChart courtesy of GoldChartsRUs.com

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