While gold is riding high, assets in Gold ETFs are snoozing
While gold $Gold - main 2406(GCmain)$ is riding high, assets in Gold ETFs are snoozing -- retail investors ain't buying it (central banks are though!). Thoughts:
Image
When I last checked, the gold price (in US$) was making new all-time highs and apparently in the process of making the big breakout that everyone (in gold land at least) has been waiting for.
And assets in gold ETFs?
About -30% off their all-time high in 2020.
Skepticism. Doubt. Apathy.
Also, chartists will note that it looks to be coiling into a symmetrical triangle pattern. If the breakout in price holds and sees follow-through it could trigger a breakout in gold ETF assets — aka bandwagoning.
By my analysis, a few things still need to go right for gold, but it sure is interesting to see price breaking out while investor sentiment/positioning/flows are still seemingly snoozing and skeptical.
https://twitter.com/topdowncharts/status/1773198565981983079
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- fuzzyx·2024-03-29Interesting to see the disconnect between the gold price and the gold ETFs.LikeReport
- extractoi·2024-03-29Wah, this one really insightful ah!LikeReport