SWOT Analysis: Inflows Into Gold ETFs Hit 1,000 Metric Tons
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- Gold prices were up sharply on Friday morning after China announced retaliatory tariffs on $75 billion in American goods. The escalating trade war creates geopolitical uncertainty, which often translates to greater demand for safe haven assets like gold and bonds. On Thursday, gold saw a small bounce when U.S. PMI data for August declined to 49.9, below the level that separates growth from contraction.
- Veteran investor and founder of Mobius Capital Partners LLP, Mark Mobius, gave gold a big endorsement on Bloomberg TV this week. Mobius said “I think you have to be buying at any level” and that “gold’s long-term prospect is up, up and up” due to rising money supply. Another believer of the yellow metal? A Sandler Capital Management hedge fund that is known as one of the top performers this year, reports Kitco News. The fund has $2.1 billion in assets and just made gold its top holding by increasing its investment in the SPDR Gold Trust by 180 percent.
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