The best performing precious metal for the week was gold, up 1.00%. The World Gold Council published its gold ETF flow data for May this week. Gold ETF holdings saw their first monthly inflow in 12 months, totaling $529 million or 8.2 tons.
for Evolution, continues RBC, Cowal underground was not affected by the rainfall. Rainfall data from the Bureau of Meteorology and Elders Weather suggests that, while quarter-to-date rainfall has been higher than average at both sites, neither was substantially high versus peak months in the year. This creates some difficulty forecasting the quantum of impact at each site.
Bloomberg reports that Asian retail gold buyers are still keen to acquire gold, even as prices hover at record highs. Participants at a precious metal conference in Singapore were enthusiastic about the future prospects for further gains in the price. With uncertainty regarding upcoming elections in more than 40 countries, the lack of traction in the Chinese economy, and less comfort in parking money in U.S. debt is giving gold an edge as a savings vehicle.
is CEO and chief investment officer of U.S. Global Investors, Inc., a boutique investment advisory firm based in San Antonio that manages domestic and offshore funds specializing in the natural resources and emerging markets sectors. The company’s no-load mutual funds include the Global Resources Fund , the World Precious Minerals Fund and the Gold Shares Fund .
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