Central bank gold buying is reserve policy, not a price signal, so it absorbs drawdowns that ETF flows amplify; the $148.7 million bitcoin outflow is what a 5.68% long bond does to a zero yield asset.
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Central bank gold buying is reserve policy, not a price signal, so it absorbs drawdowns that ETF flows amplify; the $148.7 million bitcoin outflow is what a 5.68% long bond does to a zero yield asset.