However, those that doubt Chinese demand should consider recent data. “Measured by deliveries on the Shanghai Gold Exchange, Chinese demand is increasing, with last week’s figure rising to 46 tonnes, having increased every week in August,” according to ZeroHedge.
Amid a spate of geopolitical concerns, gold ETFs failed to notch gains last month and it appears some investors grew frustrated as GLD, the world’s largest gold ETF, and the iShares Gold Trust (NYSEArca: IAU) lost a combined $255.4 million last month. [Gold ETFs Deal With Demand Issues]
SPDR Gold Shares
ETF Trends editorial team contributed to this article. Tom Lydon’s clients own shares of GLD.