Gold gained 2.8% to hit $4,213 per ounce, its highest level since June 22, driven by fourteen consecutive days of inflows into Chinese gold ETFs. Cumulative flows to these products reached 40 billion yuan ($5.6 billion) year-to-date, the second-best first half on record. China’s central bank purchased 82 tonnes of gold over the twenty months through June. Meanwhile, the S&P 500 index reached a new all-time high at 7,793, with 66% of stocks above their 50-day moving average. Bitcoin, however, failed to follow this upward momentum and remained capped around the $64,000 level.
Source: Read the original article
