Wealthy investors help drive surging demand for gold

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Financial Times 12h ago

Wealthy investors help drive surging demand for gold - Financial Times

Quick Summary:

The purchases tend to reflect buying to hedge speculative positions in the futures market, as well as demand from wealthy individuals.

That could make it less likely that central bank buying exceeds 1,000 tonnes this year, after it reached this level for the previous two years.

The buying spree by wealthy individuals and families comes as flows into gold-backed exchange traded funds have turned positive in recent weeks, in a sign that western investors are finally buying into the rally.