NewsMV
Exchange-traded fund inflows into gold have accompanied an approximately 14% advance in the metal this month, with concern over fiscal debasement cited as the macro driver.
The move places the metal on the crowded side of a trade now looking to Kevin Warsh's speech at the Jackson Hole symposium for its next signal.
Markets are waiting on rate policy direction, and the Warsh address could confirm the setup or introduce the first real pressure on it. The inflow and positioning read ETF demand is where the positioning story lives.
When inflows into exchange-traded gold products build alongside an approximately 14% monthly advance, they signal capital making active allocation decisions.
Keep reading