Despite an official ceasefire between Israel and Iran announced earlier in the week, putting a pause to concerns over potential closure of the Strait of Hormuz, global investors have continued to play it safe with investment in safe haven precious metal – Gold funds.
Gold funds saw consistent foreign investment for the fifth week in a row, with a total of $22bn coming into precious metal funds. This marks the strongest gold to equity ratio flow since November 2021, according to Elara Capital report dated June 27 said, citing EPFR Global data.
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