Dusseldorf After the brilliant start to the year, the trend in the price of gold has recently pointed downwards again. From its ten-month high of $1,960 reached in early February, it fell back to around $1,860 most recently. However, an important group of buyers is apparently back: professional investors in the USA.
This is suggested by data from the World Gold Council, the gold mining industry’s lobbying organization. In the USA, these show inflows for gold ETFs for the second month in a row in January. The physically backed, exchange-traded gold index funds are used primarily by professional investors in the United States.
Historically, this has always been a good sign: gold prices tended to move in the same direction as net inflows or outflows from the gold ETF. But this time there is an important difference.
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