Paper gold holding has hit a new all-time high with 3621 tons. 😲
Paper gold is on a roll with seven months of positive cash inflow in a row!
To better understand this seven months inflow, take a look at the chart below representing the cash flowing in and out of gold-backed ETFs.
And the entire world seems to be buying in.
We saw an increase in paper gold holding from all surveyed areas:
North American funds: +83 tons
European funds: +18 tons
Asian funds: +0.4 tons
Other regions: +3 tons
To give you a more concrete idea, at $1,800 an ounce, one ton of gold is worth $57,871,260.
And even though we believe in physical holding rather than paper, gold-backed ETFs have always worked as a reliable indicator of trends in the institutional world.