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Gold Demand Surges As Price Suffers Worst Month Since November

Courtesy of ZeroHedge. View original post here.

Amid a resurgent dollar, gold prices have tumbled in September (worst month since Nov 2016). However, as geopolitical tensions soar, with the standoff between the U.S. and North Korea probably topping the list, demand for precious metals surged with Gold ETF holdings rising most since Feb 2017.

Bullion has sunk 2.8 percent in September while holdings in gold-backed ETFs expanded 2.4 percent as of Thursday.

Plenty of investors are still seeking havens, says Barnabas Gan, an economist at Oversea-Chinese Banking Corp. in Singapore.


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