Gold investment gains momentum

HOLDINGS in global gold-backed ETFs rose sharply in June by 127 tonnes to 2548t – equivalent to US$5.5 billion in inflows – on heightened geopolitical uncertainty and more accommodating monetary policy signals by central banks, according to the World Gold Council.

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Juan Carlos Artigas says holdings in global gold-backed ETFs rose sharply in June

This drove interest rates and the US dollar lower and shifted gold-price momentum, director of investment research Juan Carlos Artigas told MNN sister site Mining Journal.