Gold is already near the top of the 2024 range of outcomes projected by BlackRock Investment Institute, for example.
Emerging market central banks have about 6% of their FX reserves in gold, and developed markets have about 12%.
"Weaponizing dollar-based systems, including SWIFT , has led to more people, more countries specifically — more sovereign wealth funds and central banks — not trusting dollar-based assets as much.
ETF flows As central banks have been bidding up gold, smaller investors were selling for much of this year.
The VanEck Merk Gold ETF (OUNZ) and the Abrdn Physical Gold Shares ETF (SGOL) are the other funds with at least $100 million in net inflows this year, according to FactSet.
Persons:
there's, Robert Minter, Minter, SWIFT, Lauren Goodwin, we're, Chris Verrone
Organizations:
Federal, Nasdaq, BlackRock Investment Institute, Abrdn, World Gold Council, U.S ., FX, United, Russia, New York Life Investments, MiniShares, Federal Reserve
Locations:
U.S, Abrdn . Central, Central, United States, Ukraine