The Global Experts on Gold

Global physically backed gold ETFs saw their fifth consecutive monthly inflow in September, attracting US$1.4bn. Inflows were concentrated in North America during the month while Europe was the only region that experienced outflows, albeit only mildly.

Gold had another exceptional month in September, aided by elevated Middle East tensions and a jumbo rate cut from the US Fed. Looking ahead, geopolitical risk and a combo of lower rates and wavering spreads suggests gold has entered a very favourable environment.

In anticipation of the upcoming US presidential election, our report examines how gold has historically performed during previous elections, the impact of geopolitical uncertainty on its value, and the implications for physical gold demand.

Data on sectors of gold demand, supply, productions costs and futures market positioning

Benchmark gold prices, gold futures curves and local price premium/discount

Returns, volatility, correlations and trading volumes for gold, bonds, equities and other major asset classes

Data on central bank gold holdings, sales and purchases, as well as insights from annual surveys into central bank attitudes towards gold.