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September review
A surge in US Treasury yields and the US dollar alongside a drop in futures positions helped drive prices lower in September, despite impressive gold ETF inflows.
Looking forward
UK gold ETFs delivered a stellar Q3. Fiscal concerns may be helping, but this looks less like the short-lived 2022 surge and more like a sustained shift in demand.
| Attachment | Size |
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| Gold-Market-Commentary-Go-with-the-Flow.pdf | 241.97 KB |