TGViewer
Metals Wire Metals Wire @metalswire · 693 subscribers
Post #1712 221
Morning Bites (part 1)

📈Gold-backed ETFs accelerated net purchasing to 48t in July, following the +18t in June. According to the World Gold Council (WGC), the inflows were recorded across all the regions: North American funds raised 26t, European and Asian funds added 17t and 5t, respectively. As we have previously noted, the return of ETFs to gold buying, after a long period of net selling, creates additional support for the metal

We maintain our view that gold is trading above its fundamentally justified level for 2024, of USD ~2,300/oz, due to the persistently strong demand from global central banks and in light of the widely expected US Fed funds rate cut in September 2024. However, gold has more upside risks from here, amid an unfavorable geopolitical environment globally

#ETF #gold
https://metals-wire.com/news-reports
Open in Telegram All posts from @metalswire
More from @metalswire
  1. Sep 29, 2026Morning Bites 🔗CISA mills daily crude steel production in mid-September inched down to 1.…
  2. Sep 28, 2026Morning Bites 🥉Global mined copper production increased 1.3% YoY in July, vs. the revised…
  3. Sep 25, 2026Morning Bites 🔗Global crude steel output declined 1.2% YoY to 144.2mnt in August, vs. the…
  4. Sep 24, 2026Morning Bites 🇨🇳 The output of power generation equipment in China decreased 3% YoY in A…
  5. Sep 23, 2026Morning Bites 🏭Global primary aluminium output declined 1.7% YoY in August, after the rev…
  6. Sep 22, 2026Morning Bites 🇵🇪 Peru’s copper output rose 4% YoY in July, reversing from the 5% YoY dec…
Threads Profile ViewerView any public Threads profile without an account.Open ThreadLook →Writing with AI? Make it sound human.Metric37 rewrites AI drafts so they read naturally. Free AI detector, 1,500 words free.Try Metric37 →