TGViewer
Metals Wire Metals Wire @metalswire · 694 subscribers
Post #1750 198
Morning Bites (part 1)

📈Gold-backed ETFs purchased 29t net in August, following the +48t in July. According to the World Gold Council (WGC), inflows were recorded across all regions: North American funds raised 17t, while European funds added 8t. As we have noted previously, the return of ETFs to gold buying, after a long period of net selling, creates additional positive momentum for the metal

We maintain our view that gold is still trading above its fundamentally reasonable level for 2024 (USD 2,300-2,400/oz) amid persistently strong demand from global central banks and the widely expected US Fed funds rate cut in September 2024. However, we see more upside risk in gold prices following geopolitical factors, as well as ETFs’ return to gold buying

#ETF #gold
https://metals-wire.com/news-reports
  • 👍 1
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 →