Investors are now turning to gold ETFs following the global recession

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Mumbai, Ta. 09 October 2019, Wednesday

Investors are turning to gold in the wake of signs of a global economic downturn and declining equities. Exchange Traded Funds' holdings with bullion-backed gains increased for the 7th consecutive day globally. The current record of 1 is now less than 5 tons, according to a recent study.

Inflows have been seen in gold ETFs despite global gold prices being around $ 1 an ounce in recent weeks.

Global trade tensions have increased due to the trade war between the US and China, which has led to a rise in silver prices. Investors are turning to the gold ETF, hoping for no specific outcome of the negotiations between the US and China.

In addition, American Federal Reserve Chairman Jerome Powell hinted at a further cut in interest rates, which also boosted the attractiveness of investment in gold.

Investments in gold will continue and global prices will reach $ 6 an ounce in the next six months, a research firm noted in its report. Weak numbers in the manufacturing and service sectors indicate the global recession is affecting the US economy.

An analyst recently warned that the Brexit issue could put the world in turmoil and risk the collapse of the economy. In addition, the International Monetary Fund also painted a weakness in the global economy. In the current year, the present gold prices have risen by about 8%. At one point earlier this month, the highest price was seen at $ 5, followed by 5.

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