Commodities
Gold on Pace to Log Eighth Weekly Advance as ETFs Lure Inflows
- Holdings in bullion-backed funds jump to the highest in a year
- Investors weigh trade, geopolitical and economic concerns
This article is for subscribers only.
Gold headed for an eighth consecutive weekly advance on robust haven demand fueled by geopolitical and trade tensions.
Bullion edged lower to about $2,926 an ounce on Friday but remains more than 1% higher this week, with trading marked by fast-rising holdings in bullion-backed exchange-traded funds. An eighth weekly increase would be the longest winning run since 2020.