Yes, I’m talking about gold. I’ve covered how the central banks, mining stocks and Brexit all affected the yellow metal. Today, we’ll take a look at another big source of gold demand. We’ll discover how it affects you and how you can profit – big time!
Here’s a chart of total gold holdings by the world’s physical gold ETFs through Monday. See if you can spot the trend…
A whopping 17.828 million troy ounces – about 554 metric tons – was poured into gold ETFs this year. That’s about $16.2 billion worth. That surges past the $2.7 billion of outflows seen in the second half of 2015.
In fact, the surge into gold ETFs during the first half of the year was bigger than that during the same period of 2009 – when there was a global financial crisis going on.
Here’s another way to look at it: With global holdings in gold ETFs above 2,000 metric tons, ETFs now own more gold than all but five of the biggest central banks.
And central banks own a lot of gold.
Heck, China is the world’s biggest gold consumer, and its central bank is a consistent buyer of gold. But China is still behind the gold ETFs.
This is truly massive buying. So who’s doing it?
I mean, mom-and-pop investors tend to buy physical gold. That’s what I do. That’s probably what you do (if you’re in the market).
So who buys ETFs that track the price of gold, but don’t give the physical satisfaction of holding gold in your hand?
Big investors, that’s who. We call them the “smart money.”
Continue reading article: What the World’s Top Investors Are Buying
The post What the World’s Top Investors Are Buying appeared on Gold Silver Intel.
source http://goldsilverintel.com/worlds-top-investors-buying/
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