Gold ETF Demand Is Waking Up

46.7 tonnes of gold in a single week.

That’s how much flowed into physically backed gold ETFs, worth roughly $6.4 billion, according to Reuters.

It was the strongest weekly inflow in about ten months.

What matters most is where this demand is coming from.

Central banks have been major buyers of physical gold for years. That story is already well known. Western investors, however, have been far less consistent.

And that may now be starting to change.

Reuters reported that the latest inflows were particularly strong in funds across North America and Europe. That means another important source of gold demand could be returning at a time when central-bank buying remains significant.

If these inflows continue for several more weeks, the picture starts to become much more interesting.

Central banks have been one of the main forces behind gold’s latest bull cycle.

Now Western investment demand may be starting to join them.

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