Gold edges higher as surge in ETF holdings continues

From bnnbloomberg.ca

Gold edged higher, as bullion-backed exchange-traded funds continued to see big inflows, adding the most in more than three years on Monday. Bullion traded above $3,020 an ounce, less than $40 shy of the record high reached last week. ETFs added 23 tons of gold in the last trading session, the biggest one-day increase since 2022, according to data collected by Bloomberg. Gold-backed ETFs have seen persistent outflows over the last three years, as high interest rates made holding cash rather than gold more appealing for Western investors. That trend has reversed this year, giving support to prices. Bullion has rallied ... (full story)