“Funds added just under 192 tonnes of gold year-to-date, equivalent to $7.5 billion, an increase of 7.7% of global assets under management from December 2016. Europe led by Germany accounts for the bulk of inflows in 2017 at more than 120 tonnes,” reports Mining.com.
Related: Despite Stock Market Gains, Investors Still Want Gold ETF Exposure
The good news for gold ETFs is that inflation could serve as a catalyst for the yellow metal. Rising inflation could also prove to be a catalyst for gold ETFs. By some metrics, the Fed has under-estimated U.S. inflation, which could prove beneficial to gold because the yellow metal is historically a popular inflation fighter.
For more information on the gold market, visit our gold category.
Tom Lydon’s clients own shares of GLD.