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Gold ETF demand robust

Fri Oct 11 2019


Gold ETF investment: Demand for safe-haven gold continues to be strong due to the fair amount of uncertainty over the US-China trade talks, increasing possibilities of another Fed rate cut and the geopolitical tensions in the Middle East including the recent clashes between Turkey and Syria. Gold ETF investments increased by 0.2mOz yesterday, the seventeenth consecutive day of increases in gold ETF holdings with total known ETF holdings of gold increasing to 81.8mOz as on 9 October 2019. Gold prices have recovered to above US$1,500/oz as speculators have been possibly returning to the metal  after sharply reducing their net longs during the last week of September.