- Investor sentiment continued to improve in the gold market even as prices fell below $2,000 an ounce last month, according to the latest research from the World Gold Council.
"Strong price momentum earlier in the month incited investors' interests in gold ETFs before giving some back towards the end of May as the gold price pulled back," the analysts said in the report."In addition, we believe that U.S. debt ceiling negotiations and looming banking industry concerns also led investors to seek safe-haven assets, contributing to the positive trend in May.
"Between January and May, funds in North America accumulated net inflows of US$3.2bn , dominating global inflows," the analysts said. In Asia, ETFs saw mild net inflows last month of 0.1 tonnes. The analysts said that outflows from Chinese funds were offset by Japanese and Indian inflows.
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