Bloomberg/Ranjeetha Pakiam/2-25-2020
“The global tally of bullion in exchange-traded funds swelled by the most in more than a month on Tuesday as equities sank. That was the 25th consecutive day of inflows, a record. At 2,624.7 tons, the holdings are the largest ever.”
Chart courtesy of Gold Charts R Us
USAGOLD note: Coins and bullion are the choice for most private safe-haven investors. ETFs are the province of big funds and institutions interested in making a price bet. “Well, I worked on Wall Street and in the hedge fund industry for decades,” wrote James Rickards recently. “I also lived among the players in New York and Greenwich, Connecticut, at the same time. I’ve met the top hedge fund gurus in private settings. And here’s the thing: I’ve never met one of them who does not have a large hoard of physical gold stored safely in a nonbank vault. Not one.” Institutionally, in other words, the big fund managers own ETFs. Personally, they own the physical metal in the form of allocated coins and bullion.
