Net inflows in the largest gold ETF increase in the midst of falling stock and crypto prices-selected Bitcoin messages
Net inflows in the largest gold ETF increase in the midst of falling stock and crypto prices-selected Bitcoin messages
The net inflows in SPDR Gold Shares rose to a new record of $ 1.63 billion, the highest level since the listing in 2004.
One of the world's largest gold ETFs, SPDR Gold Shares, recently recorded a net inflow of $ 1.63 billion, the highest since its listing in 2004, according to a report. The record inflow of Friday, which is due to the break-in of stock and cryptocurse, could be a sign that investors become more optimistic about gold, according to the report. As explained in a recently published Bloomberg test report , this increase in net inflows in SPDR gold shares corresponds to 27.6 tons of the precious metal. The increase in the net ETF inflows of SPDR Gold Shares comes, while the world is preparing for the resumption of interest rate increases by the US Federal Reserve, which according to a previous Bitcoin.com News test report seems to be controlled to the termination of larger securities.
In addition to the upcoming interest rate increases by the US Federal Reserve, the demand for gold was heated up by the growing global tensions for Russia alleged plans for an invasion of Ukraine. Despite the increase in net inflows into the gold ETF, analyst Daniel Briesemann is quoted in the Bloomberg report, which expresses his surprise that the precious metal does not benefit from the strong ETF inflows. "We find it very surprising that the gold price could not benefit from the robust ETF inflows. This week, the market participants are expected to focus primarily on the session of the US Federal Reserve," Briesemann, Analyst at Commerzbank, is quoted. Although gold is seen by many as a reliable alternative value storage, it was unable to protect its owners from the effects of the quantitative loosening of the US Federal Reserve after its price in 2021 almost came to an end than it started. In contrast, Bitcoin and other cryptocurrencies end the year with double -digit profits or more. Since cryptocurrencies and stocks continue to slip, some investors try to keep the precious metal again. At the time of writing this article, gold is traded at around $ 1,842 per ounce, which is almost one percent above the price of December 31 of $ 1,828. What do you think about this story? Tell us your opinion in the comments below. Bedy verification : Shutterstock, Pixabay, Wikicommons investors are more optimistic about gold
The static price of gold
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