With a hot CPI report casting a shadow of doubt on the likelihood of a June interest rate cut, all eyes are on the Fed. But they’ve caught themselves in a “damned if they do, damned if they don’t” moment for the economy — and the news for gold is good regardless.
Globally, ETFs added gold for the 10th straight month in September and pushed total inflows to over 1,000 tons on the year.
The previous yearly inflow record was 646 tons set back in 2009.
Gold ETF holdings increased by 68.1 tons last month, despite the metal’s worst monthly price performance since November 2016, according to data released by the World Gold Council.
