Private investors pile into gold as price drops - Yahoo Finance Singapore

AI desk brief

Private investors stepped up gold buying in September despite the metal’s sharpest monthly fall in sterling terms in more than a decade, with BullionVault recording net inflows of 389kg worth about £40mn — the largest addition to client holdings since June 2021. The buying came as gold fell 6.7% in sterling terms, reversing around three-fifths of August’s gains and marking the sharpest September decline since 2013.

BullionVault said the dip-buying underscores gold’s role as a portfolio diversifier amid concern over government borrowing, currency debasement and high bond yields. UK activity improved in particular: buyers rose 4.4% month on month, sellers fell 18.2%, and the UK Gold Investor Index rose 1.1 points to 55.4, its highest since June.