In July, China's four largest onshore gold-backed ETFs experienced a combined net outflow of approximately 3.2 billion yuan ($450 million), according to a Bloomberg News report.
Spot gold prices slipped 0.1% to $3,335.39 per ounce at 04.53 a.m. ET, while the U.S. dollar index, which compares the greenback with a basket of currencies, advanced 0.5%.
Billionaire investor Ray Dalio advised a 15% portfolio allocation to Bitcoin (CRYPTO: BTC) or gold, citing mounting U.S. debt concerns and potential currency devaluation risks.
A decade ago, the idea of putting Bitcoin or commodities like gold in a retirement plan would've sounded insane. Today, President Donald Trump has the opportunity to radically reshape the way Americans save for retirement.
JPMorgan picks AngloGold Ashanti as top gold miner, sees potential for 60-70% upside with gold at $4000/oz. Other top contenders are Fresnillo, Hochschild, and Gold Fields.
