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The analysts noted that North American-listed funds saw holdings actually increase by 4.8 tonnes, valued at $360 million.price rally triggered exercises of in-the-money calls in mid-March, creating sizable inflows,” the analysts said. “Demand would have been stronger if investors didn’t sell their holdings in early and late March, taking advantage of gold price advancements.”
“The UK accounted for the bulk of the loss despite the Bank of England’s dovish tilt in its March meeting, which led to lower government bond yields and a weaker pound,” the analysts said. “Taking a closer look, although scattered inflows were evident when theprice surged, outflows emerged when gold’s momentum paused – likely due to profit-taking activities.
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