4 Gold Stocks to Watch as Gold ETFs Return to Inflows in May Zacks.com 2 hrs ago
After three straight months of net outflows, gold exchange-traded funds (ETFs) witnessed net monthly inflows in May and were at the highest levels since September 2020. This improvement can be attributed to ongoing inflation concerns, a weaker dollar and lower real yields, which made investors return to gold-backed ETFs.
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Per the latest report by the World Gold Council, gold ETFs saw inflows of 61.3 tons or $3.4 billion in May. This was the highest since the September 2020 inflows of 68.1 tons or $4.6 billion. Globally, gold-backed ETF assets under management stood at 3,628 tons ($222 billion) falling 7% behind the October 2020 high of 3,908 tons.
Gold Rebounds on US Inflation Data: 4 Stocks to Watch msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
5 Gold Stocks to Keep an Eye on as Gold Prices Stabilize Zacks.com 4 hrs ago
Gold futures for June delivery gained 0.8% to close at $1,741.50 an ounce on Apr 6 courtesy of a weaker dollar and as yield on the benchmark 10-year Treasury note declined to 1.64% the lowest in two weeks, with global stocks trading around all-time highs. The yellow metal seems to have regained footing after losing 8% of its value so far this year due to vaccine rollouts and strong optimism over economic recovery.
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According to the latest Labor Department report, total nonfarm payroll employment rose by 916,000 in March and the unemployment rate fell to 6.0%, reflecting the resumption of economic activity that had been thwarted by the pandemic. In the United States, there has been a noted expansion in manufacturing activity over the past 10 months. The Caixin China General Manufacturing PMI has remained above 50 since May last year, highlighting expansion. Meanwhile, the IHS Markit E
3 Gold Stocks to Buy Despite Gold Prices Hitting 10-Month Low Zacks.com 3/9/2021
Gold futures for April 2021 delivery declined to a nine-month low of $1,673.30 per ounce on Mar 8. The yellow metal has lost 11% of its value so far this year due to an uptrend in the U.S dollar and treasury yields. Vaccine rollouts and strong optimism over economic recovery have also dulled its lustre.
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Gold prices dropped 6.5% in February the largest monthly decline in four years. Per the last available data from World Gold Council, Gold exchange-traded funds (ETF) lost 84.7 tons (outflow of $4.6 billion) in February. This marked outflows for the third time in four months, and the seventh worst monthly holdings loss historically. Global assets under management (AUM) now stand at 3,681 tons ($207 billion) levels last seen in June 2020.
3 Gold Stocks to Buy Despite Gold Prices Hitting 10-Month Low msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.