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Gold ETF holdings show record appetite for the yellow metal

26 July 2020


Gold exchange-traded fund (ETF) holdings have risen to an all-time high, the equivalent of 3,321 tonnes, as noted by popular analyst Holger Zschaepitz. The decision by the US Federal Reserve to print money faster than ever has lifted inflation expectations and pushed the real yields to negative territory. That seems to be the reason for the record appetite for gold, a zero-yielding inflation hedge.


The yield on the 10-year Treasury Inflation-Protected Security fell to a record low of -0.90 last week. Gold is currently trading at $1,917 per ounce - just $4 away from setting a new record high above the September 2011 high of $1,920. The metal rallied by over 5% last week alone and is now up 25% on a year-to-date basis.