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Gold ETF Sales Skyrocket Amid Price Surge
Amid geopolitical uncertainty, there is a silver lining for gold. Investors have been pouring money into the precious metal’s ETFs this year at a rapid clip, with nearly $21 billion flowing into US-domiciled products through July, data from Morningstar Direct show. Demand hasn’t even come close to that level since 2020, when the Covid-19 pandemic prompted a rush to gold. The asset is a safe haven, and there are several big reasons investors are looking for that this year, observers say. To start, the price of gold is up this year by nearly 29%. “Gold’s a speculative asset, so the main driver of price and ... (full story)
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