{"id":128969,"date":"2024-08-09T09:12:25","date_gmt":"2024-08-09T09:12:25","guid":{"rendered":"https:\/\/kinesis.money\/?p=128969"},"modified":"2024-08-09T09:12:29","modified_gmt":"2024-08-09T09:12:29","slug":"gold-higher-etf-flows-add-3-7-billion-july","status":"publish","type":"post","link":"https:\/\/kinesis.money\/it\/market-analysis\/gold-news\/gold-higher-etf-flows-add-3-7-billion-july\/","title":{"rendered":"Gold Price News: Gold Nudges Higher, ETF Flows Add $3.7 Billion In July"},"content":{"rendered":"\n

Gold prices put in a more positive performance on Thursday, reclaiming the $2,400 an ounce level after a degree of weakness seen earlier in the week.<\/p>\n\n\n\n

Prices moved higher to $2,425 an ounce on Thursday, compared with around $2,384 an ounce in late trades on Wednesday.<\/p>\n\n\n\n

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KAU\/USD 1-hourly Kinesis Exchange <\/figcaption><\/figure>\n\n\n\n

Prices fell below the 20-day moving average on Monday this week, and this may have given short-term traders a reason to step in on the buy side, supporting gold and lifting prices back above $2,400 an ounce on Thursday.<\/p>\n\n\n\n

The last few days have been bearish overall for gold, although this comes in the context of all-time highs of over $2,470 an ounce seen on July 17 and August 2.<\/p>\n\n\n\n

Global gold ETFs saw their strongest month in July since April 2022, the World Gold Council said in a report on Thursday: Western activity picked up in July | World Gold Council<\/a>. ETFs attracted $3.7 billion in July, with all regions seeing inflows, led by Western funds, the industry group said.<\/p>\n\n\n\n

Moreover, July saw a large increase in open interest in gold futures on exchanges, although this has moderated somewhat in late July and early August, according to World Gold Council data: Gold Open Interest Chart 2021 | World Gold Council<\/a><\/p>\n\n\n\n

Gold prices continue to take support from expectations that the US Fed will begin an interest rate cutting cycle in September. The markets are weighing the prospects of total cuts of up to 1% by the end of the year, from the current 5.25%, as the recent period of higher interest rates has finally begun to bring inflation down closer towards the Fed\u2019s 2% target. US inflation came in at 3% in June, compared with 3.3% in May and 3.5% in March.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices put in a more positive performance on Thursday, reclaiming the $2,400 an ounce level after a degree of weakness seen earlier in the week. Prices moved higher to $2,425 an ounce on Thursday, compared with around $2,384 an ounce in late trades on Wednesday. Prices fell below the 20-day moving average on Monday […]<\/p>\n","protected":false},"author":50,"featured_media":129001,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215],"tags":[],"class_list":["post-128969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"acf":[],"yoast_head":"\nGold Nudges Higher, ETF Flows Add $3.7 Billion In July | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Friday 9th of August 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Nudges Higher, ETF Flows Add $3.7 Billion 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