Gold ETFs Post Longest Run in a Decade as Investors Take Cover
- Citi says bullion will draw more demand, sees rally to $1,700
- Trade war and recession concerns aiding safe havens like gold
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As global tensions escalate and signs of a slowdown mount, more investors are turning to gold. Worldwide holdings in bullion-backed exchange-traded funds have expanded for 17 days in a row, the longest run of inflows since 2009.
The total stash now stands less than 35 tons away from a record set in 2012, according to the latest tally by Bloomberg. The consistent influx has come even as prices struggled to extend gains above $1,500 an ounce in recent weeks.