Global gold funds are showing the first signs of recovery since the Iran war began:
World gold-backed ETFs posted +9 tonnes of gold inflows in the week ending April 3rd, the highest since the last week of February.
This comes after 4 consecutive weekly outflows of -88 tonnes following the outbreak of the Iran war.
The largest US gold-backed ETF, $GLD, alone added 7 tonnes last week, bringing total holdings to 1,054 tonnes, the highest since March 20th.
$GLD's holdings are still -47 tonnes below the early March peak of 1,101 tonnes, which marked the highest level since April 2022.
Meanwhile, ho