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Gold Price Forecast: XAU/USD ETF Holdings Surge to 6-Year Highs
Gold has climbed 17% in the year-to-date as rampant uncertainty has spurred demand for the relative safety offered by the metal. Alongside price, the total known ETF holdings of XAU/USD have also surged – boasting the highest ETF ownership of the commodity since February 2013. Since the beginning of the year, total gold holdings via exchange traded funds has increased by about 13.7%, which equates to a market value of nearly $13.3 billion. Although price has leveled off in recent weeks, the continuous demand for the yellow metal in the ETF market could work to serve as a bullish driver for the future. With ... (full story)