Investors in gold ETFs sold around 12t of gold in the last week, following of total purchases in the previous week. According to Refinitiv, the largest outflows took place in North America with 6t, followed by Europe with 4t. The US Fed raised the key interest rate by 75 basis points last week to fight inflation. This initially drove the gold price near US$1,800/oz, but it recovered in the second half of the week due to dollar weakness. Investors are torn between buying gold as a hedge against inflation or not, as on the other hand rising interest rates stand in the way of a price rise. According to a study by the ... (full story)