Jin10 reported on September 4 that the World Gold Council stated that driven by a strong rebound at the end of August, gold prices once touched $3429/ounce, rising 4% in the month. As of the end of August, the cumulative increase in gold this year has reached 31%. Despite the significant weakening of the dollar, gold priced in all major currencies has risen. As we enter early September, this positive momentum continues. The main factors for the rise in gold prices in August include: a soft dollar at the beginning of the month, ongoing geopolitical tensions, and continuous inflows into global gold ETFs. Recently, the rising probability of a Fed rate cut in September has also provided support for gold prices. The net inflow into gold ETFs reached $5.5 billion in the month, mainly from North America ($4.1 billion) and Europe ($1.9 billion), while Asia and other regions saw outflows.
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World Gold Council: August saw $5.5 billion inflow into gold ETFs, while Asia's outflow couldn't stop the buying spree in Europe and the US.
Jin10 reported on September 4 that the World Gold Council stated that driven by a strong rebound at the end of August, gold prices once touched $3429/ounce, rising 4% in the month. As of the end of August, the cumulative increase in gold this year has reached 31%. Despite the significant weakening of the dollar, gold priced in all major currencies has risen. As we enter early September, this positive momentum continues. The main factors for the rise in gold prices in August include: a soft dollar at the beginning of the month, ongoing geopolitical tensions, and continuous inflows into global gold ETFs. Recently, the rising probability of a Fed rate cut in September has also provided support for gold prices. The net inflow into gold ETFs reached $5.5 billion in the month, mainly from North America ($4.1 billion) and Europe ($1.9 billion), while Asia and other regions saw outflows.