According to analyst McClellan, he did not record a significant inflow of fresh capital into the shares of the largest ETF funds SPDR Gold Shares and iShares Gold Trust. The expert believes that this is a good supporting factor for the yellow precious metal.
Historically speaking, gold has always been supported to grow during economic crises. “This means that the rise in the price of gold still does not reflect the public's perception of the crisis situation, which means that the price rally of the precious metal is not over yet,” the expert said.
As for the largest ETF funds, investors usually invest their funds in them during the growth, and withdraw them when the value of the yellow precious metal falls. But the funniest thing happens when investors don't follow this pattern. “The slow reaction of investors towards gold looks very paradoxical, but for gold it is cause for optimism. This means that the majority of investors still do not believe in a recovery in the price of gold, ”the expert shared his opinion.