Gold ETF demand soars in China
After a strong showing in 2016, the gold price has been pegged back by dollar strength and a positive outlook for the US. Still, demand from China is growing, notably through ETFs.
Investors in Asia are poised to drive up the price of gold and related investments, most likely via exchange-traded funds, should the early period of the new US administration not go as planned, say market observers.
Chinese investors are already buying up gold both directly and via ETFs, with the largest mainland ETF provider, HuaAn Fund Management, seeing a 40% rise in assets under management in the past six months, according to industry data (see charts below).
Robin Tsui, …
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