How does ETF position affect spot gold price?

Gold is the best asset against inflation , Gold tends to keep pace with inflation , Holding gold during high inflation can help investors maintain their purchasing power , Besides , Gold is also a refuge for investors in the event of a stock market crash , Spot gold has an efficient and flexible trading mechanism , It can give full play to the advantages of gold .

 

When it comes to spot gold , Investors should be interested in large gold ETF Continuously track and analyze the position of . The so-called gold ETF, Its full name is gold exchange traded fund , The main investment target is physical gold . At present, the largest gold in the world is SPDRGoldTrust, It's in gold ETF The market share exceeds 70%, Investors through some well-known domestic financial websites , We can learn about the daily position changes .

Overall speaking , The market for gold ETF Demand is driven by monetary policy and risk aversion , And configure gold ETF It's a portfolio hedge against currency depreciation 、 An important means of political and economic instability . Current gold ETF Led by long only investment funds and private wealth management institutions , These institutions invest most of their portfolios in stocks . Besides , A small amount of gold ETF Held by hedge funds , This is because hedge funds tend to hold gold in the futures market for a long time , Because they have higher liquidity and greater leverage .

    therefore , gold ETF The increase or decrease of positions is enough to affect the market demand for gold , When investors track SPDRGoldTrust Position data of , If you find that there has been no change after a period of time , But one day, there was a sudden position or reduction , Then the probability of subsequent spot gold price rising or falling will increase , And the greater the change of position , The more obvious the market fluctuation may be .