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Morgan Stanley’s view is that central-bank gold purchases and gold ETF demand support gold prices staying above 4000 USD and that another rise in yields may not necessarily be bearish for gold.
PANews reported that Bitwise CEO Hunter Horsley said that, when gold ETF was launched in 2004, the global gold market was approximately 2500000000000 USD; when Bitcoin ETF was launched in 2024, Bitcoin's market capitalization was approximately 2000000000000 USD。
UBS expects gold prices to 4000 USD find support near and 2027 year September rise to 5400 USD. Gold ETF continues to see inflows, but USD a stronger and rising real interest rates remain short-term pressures.
According to the World Gold Council, global gold ETF saw net inflows in the third quarter of 31000000000 USD, reaching a record high; holdings increased by 67 tonnes to 4256 tonnes.
The report states that gold recently fell below 4300 USD, while TD Securities and BMO still expect it to return above 2027 in 5000 USD. It also cites ETF inflows, central-bank gold purchases, and Chinese import data as demand support.