Central bank demand for gold in the third quarter reached its highest levels in three years.
“This is the highest level of net purchases since 2015, both quarterly and y-t-d, and notable due to a greater number of buyers,” said the WGC.
Additionally, the SPDR Long Dollar Gold Trust (NYSEArca: GLDW) incorporates a currency swap mechanism to effectively gain exposure to gold paid for in foreign currencies, rather than in dollars. Investors can look to GLDW in environment where the dollar is strengthening.
For more information on the gold market, visit our gold category.
Tom Lydon’s clients own shares of GLD.