IAUM - Gold To The Moon Is Bad News - Part 3
2024-05-09 23:45:00 ET
Summary
- Investors have been selling gold ETFs for nine consecutive months, but the pace of outflows slowed in March.
- Geopolitical tensions in the Middle East and Ukraine have not significantly impacted the price of gold.
- Central banks, particularly in emerging economies like China, Turkey, and India, continue to buy gold, supporting the market.
Preamble
Around a month ago, I penned Part 2 in this series in which various doom laden scenarios were laid out that could potentially boost the cost of buying the yellow stuff northwards. And as I type these words, the spot gold price remains above $2,300 an oz for some of the reasons outlined therein....
Gold To The Moon Is Bad News - Part 3