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ETF Securities Reports Biggest One-Day Gold Inflow Since Financial Crisis

from Zero Hedge:

It never ceases to amaze how vastly different the investment styles of gold paper vs physical traders are: while we have documented previously how the latter tend to buy progressively more the lower the price, “investors” in paper-derivatives such as ETFs and ETPs are quite the opposite, where only momentum matters. Once a reflexive buying spree is unleashed, paper buying begets even more paper buying. Nowhere is this more evident than in today’s daily report of ETF Securities, where “inflows into gold ETPs of US$263mn on Friday 1st July were at their highest since inception.”


Demand for safe haven ETPs rise as uncertainty continues. Last week saw long gold, silver and long CHF recording strong inflows of US$433.5mn in total. Inflows into gold ETPs of US$263mn on Friday 1st  July were at their highest since inception. Gold and the Swiss Franc have historically been sought after for their safe haven traits allowing investors to hedge portfolios from downside risks. We expect demand for haven assets to remain elevated as uncertainty surrounding the UK’s leadership contest and its formal exit from the EU block remain high. While the Bank of England is preparing for more monetary policy easing, Deutsche Bank and Santander failed the US Federal Reserve stress test again, keeping investors nervous.

While dramatic in the aftermath of Brexit, the sudden influx of funds into paper-ETFs tracking gold is hardly new: in March we noted that “The Last Time Gold ETF Flows Were This Strong, The Fed Was Starting QE.”


Updating the gold fund inflow ETF chart shows the following:


It has gotten to the point where even Bloomberg, the majority of whose financial TV anchors and “pundits” abhor gold, was forced to report about the surge in ETF allocations.

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1 comment to ETF Securities Reports Biggest One-Day Gold Inflow Since Financial Crisis

  • Craig Escaped Detroit

    Rushing more into paper gold (instead of physical gold) as the price rises, is like passengers rushing to fill up jugs of water as the Titanic begins to sink.

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