PremiumAs Latecomers To Gold Rally, American Investors Might Drive The Barbarous Relic To New Extremes
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Authored by Simon White, Bloomberg macro strategist,
A year after China and other mainly Asia-based retail investors in ETFs ramped up their gold purchases, buying of US gold ETFs has picked up too. Retail demand can often mark the last stage of a bull trend.
Central banks kick-started the gold bull run that started in 2022. A naïve look at the data would tell you that DM central banks were behind much of the move, with the value of their gold holdings rising to $1.3 trillion from just under $700 billion since 2022, versus $370 billion for EM central banks.
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