Interest in Gold continues to rise

Source: Dukascopy Bank SA


Gold continues to have significant performance as an inflationary hedge for the market. Year-to date, Gold has seen an increase in price of 31.22%, which has been an outperformance of SP500 by over 9%.

According to LBMA The Independent Precious Metals Authority, month on month there has been significantly higher activity regarding gold value transfers. The transfers are up 10.9%, corresponding value transfers are up by 14.3%, and total transfers of gold are up by 26.1%, comparing to previous month. According to World Gold Council, in August 2024 overall Gold ETF's saw a fourth consecutive month of net positive inflow of funds globally.

Moving forward, in the near term future, there is a high probability that elevated levels of inflation will continue. Taking in to the consideration progression of increase in gold investment products, long trades are possible for steady gains.
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