Bullish faith is hard to change, funds rush in to increase positions in gold ETFs

After a series of latest economic data was recently released in the United States, market expectations for a Fed rate cut have been increasing. As a result, international gold prices have been hitting historical records consecutively. Gold ETFs have also been surging, with a large amount of funds flowing into overseas gold ETF markets. Among them, the SPDR Gold ETF (GLD) saw a net inflow of over $2.6 billion in July and August. Market participants believe that in a period of declining real interest rates and various geopolitical uncertainties, gold, as a super-sovereign credit currency, still possesses strong financial and hedging attributes. (China Securities Journal)