This makes more sense to me than any other explanation I’ve seen for the atypical rip in the gold price away from traditional drivers of DXY and real interest rates:
“Gold is trading at an all time high and gold ETF demand has surged in the past week with almost $600 million of net inflows into gold ETFs globally,” said Rebecca Sin, a Bloomberg Intelligence analyst.
“Demand in Mainland China could continue as investors look to diversify their holdings with commodities and foreign ETFs.”
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