Connect with us

Hi, what are you looking for?

Future Money FateFuture Money Fate

Investing News

Joe Cavatoni: Gold Demand Hits Q3 Record, Western ETF Buyers Back in Action

Referring to the World Gold Council’s latest report, he highlighted the return of western exchange-traded fund investors. With interest rates on the decline and geopolitical turmoil still strong, they’ve been more eager to buy.

‘Overall holdings of gold in investment portfolios has been stable, but actually adding to gold allocations has required that opportunity cost, or that carrying cost, to come down for the investor in the western market, and that’s what we’re starting to see,’ Cavatoni explained during the interview.

Cavatoni also spoke about how the upcoming US election may impact gold, as well as other segments of demand for the yellow metal, including bar and coin demand, jewelry demand and technology demand.

‘Where the election will have impact (for gold) is on how policies will develop,’ he said.

‘That tends to show up six months or so post an election outcome when policies can be discussed, clarified and potentially start to be implemented. That’s why we think that six months into the election outcome is when you’re going to start to see more of an effect on the gold price,’ Cavatoni said, adding that there may still be short-term volatility.

Watch the interview above for more of his thoughts on gold market trends to watch right now.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

You May Also Like

Stock News

In this episode of StockCharts TV‘s The Final Bar, Tony Dwyer of Canaccord Genuity talks Fed policy, corporate bond spreads, and why the level of interest...

Stock News

SPX Monitoring Purposes: Long SPX 8/9/23 at 4467.71. Long SPX on 2/6/23 at 4110.98: Sold 6/16/23 at 4409.59 = gain of 7.26%. Gain since...

Stock News

In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

World News

The vote in Ohio this week significantly set back Republican efforts to restrict abortion rights, no question. Voters strongly rejected Issue 1, which would...