by Peter Schiff, Schiff Gold:

Gold-backed funds reported an inflow of gold for the third straight month in May, flipping global ETF demand positive on the year.

Globally ETFs added 19 tons of gold to their holdings in May. Gold-back funds held 3,478 tons of metal as of the end of the month. That represents a 6-ton increase on the year and is the highest level since October 2022.

Total ETF gold holdings remain 11% lower than their record high of 3,919t tons in October 2020.