According to the latest data from the World Gold Council, gold ETFs, ie gold-backed exchange-traded funds; It saw more exits in December. In addition, new estimates for the gold price came to the fore. As Kriptokoin.com , we provide the details…
WGC experts conveyed their gold price predictions
In a report published on Friday, WGC announced that last month the global ETF’s He said that 6.4 metric tons of gold flowed from the mines. According to the report, December closed a year in which a total of 173 tonnes of gold were liquidated from ETFs worldwide. North America led last month’s exits as funds liquidated 22 tonnes of gold last month. In the report, it was stated that European-based and Asian-based funds saw a total of 16 tons of inflows. Outflows in North America are thought to have been triggered by Fed decisions.
Many analysts noted that the nearly 4 percent drop in gold in 2021 was due to sluggish investment demand as the industry saw consistent outflows throughout the year. “Despite significant outflows for the year, gold ETF holdings remain significantly above pre-pandemic levels as they recorded record inflows of around 875 tonnes throughout 2020,” said Analisdollarser. In 2022, the WGC presents a mixed outlook for the market as historically low real interest rates weigh against the Fed’s tightening monetary policy due to increasing inflation pressures. WGC senior analyst Adam Perlaky used the following statements:
As the Fed’s latest statement, which may hamper gold performance, we remain vigilant against evolving monetary policies and a faster rise in interest rates. Historically, however, rates remain low and while the portfolio structure continues to change to accommodate volatility, gold will continue to support demand given its role as a high-quality liquid asset.