ETF holdings Gold (XAU/USD) They rose by the most in the last three months, say TDS commodity strategists.
Precious metals receive support from China
“Although it is only a small dot on the chart, and a smaller amount than was added during the accumulation period in early June, it still gives hope to gold enthusiasts that this may finally be the turning point in macro positioning. “
“Precious metals continue to receive support from the East, as top traders on the Shanghai Futures Exchange (SHFE) continue to hold large positions in the Yellow Metal and Silver (XAG/USD), while flows continue towards the Chinese Gold ETF.”
“This continues to highlight that precious metals have increasingly become a hedge against currency depreciation, with renewed pressures in Asia supporting buying activity.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
