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Adrian Ash: China 'buys the dip' in gold after record ETF outflows
By Adrian Ash
Bullion Vault, London
Wednesday, July 30, 2025
Gold fell again today against a surging U.S. follar, setting its lowest London price in three weeks as headlines proclaiming a sudden flight out of Chinese bullion-backed exchange-traded trust funds preceded the U.S. Federal Reserve's July interest-rate decision.
After spring 2025 saw record trading into China gold ETFs, "Some investors are taking profits from gold and rotating into equities to chase stronger momentum," Bloomberg quotes analyst Steve Zhou at Huaan Fund Management Co., issuer of the largest gold ETF available to Chinese investors.
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"Retail investors have been the main drivers of the outflows," Zhou says, highlighting the attraction of swapping into this month's 5.5% jump in the CSI300 index of Chinese corporate equities.
Mid-month, Asian-listed gold ETFs as a group grew to need the most bullion backing ever, peaking above 324 tonnes according to data compiled and published by the mining industry's World Gold Council. ...
... For the remainder of the analysis:
https://www.bullionvault.com/gold-news/gold-price-news/china-gold-etfs-073020251
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