Bloomberg/Ranjeetha Pakiam/8-3-2020
“Investors are so concerned about the global outlook that worldwide holdings in gold-backed exchange-traded funds now stand behind only the official U.S. reserves of bullion after they surpassed Germany’s holdings.”
USAGOLD note: As reported here Monday, one of the more important gold stories over the past several months has to do with pension funds, insurance companies, and private wealth specialists queuing up to purchase the yellow metal. Even more important, perhaps, is the interest taken by sovereign wealth funds because of their ability to deploy significant concentrations of capital without a lot of rigmarole. These market sectors join the already strong interest from hedge funds and financial institution trading desks.
Chart courtesy of GoldChartsRUs.com
