Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

Strong inflows into Chinese Gold ETFs in April – Commerzbank

The World Gold Council reported Gold ETF data for April last week, Commerzbank's commodity analyst Carsten Fritsch notes.

The level of Gold ETF holdings in China is still low

"According to the data, there were net inflows of 115 tons last month. This was the fifth consecutive monthly increase in Gold ETF holdings and also the strongest in more than three years. The composition of the inflows was also remarkable. This is because the majority occurred in Asia, particularly in China. Chinese Gold ETFs recorded net inflows of almost 65 tons."

"The inflows in April were thus stronger than in the entire first quarter and in 2024 as a whole. The WGC attributes this to the rise in local Gold prices, the trade conflict and lower bond yields. The fact that investors in China are investing in Gold ETFs is new. For a long time, they favoured Gold in the form of bars and coins."

"If this change in behaviour continues, significant ETF purchases could be expected in the coming months and years. After all, the level of Gold ETF holdings in China is still comparatively low at 203 tons. By way of comparison, Gold ETF holdings in the US amount to more than 1,750 tons and those in Europe to a good 1,340 tons."

USD/CNH can continue to weaken – UOB Group

US Dollar (USD) could continue to weaken vs Chinese Yuan (CNH); the major support at 7.1700 is likely out of reach for now. In the longer run, renewed downward momentum suggests 7.1700 is back in sight, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Read more Previous

US Dollar unable to hold on to momentum ahead of US CPI

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, corrects to near 101.50 in the European trading session on Tuesday.
Read more Next