Chinese investors are piling into gold funds at a record rate, as Donald Trump’s trade war and fears over a US recession and inflation drive a hunt for haven assets.
Inflows into gold exchange traded funds in China total 70 tonnes — or about $7.4bn — so far this month, more than double the previous monthly record, according to the World Gold Council, an industry body.
“Whilst we have seen ETF demand from other regions, China is really in the lead now,” said John Reade, senior market strategist at the WGC, adding that Chinese investment demand for the precious metal had risen “dramatically” this month.
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