Gold ETF Inflows Reverse Course as Warsh's Hawkish Speech Crushes GLDM's Summer Rally

Kevin Warsh’s hawkish speech is cited as delivering gold its worst week in months, raising the question of whether near-term policy messaging can unwind a broader structural inflow trend into bullion. The article contrasts prior European and Asian investor purchases “pouring billions” into gold with comparatively weaker American demand. Overall tone is cautious: the rally is getting a setback, but the durability of the underlying demand shift is still the key debate.