Stock image. Growing fears about the global economy have aided bullion’s recent advance. Also helping: an end of outflows from gold-backed exchange traded funds after 21 days of uninterrupted withdrawals, according to Commerzbank AG analyst Carsten Fritsch. While ETF holdings were reduced by 94 tons in July — the biggest monthly outflow since March 2021 — investor sentiment may be shifting, he added. “Recently there were three consecutive days of inflows, which could point to a shift in sentiment among ETF investors,” Fritsch wrote in a note. Spot gold declined 0.5% to $1,763.30 at 3:41 p.m. in New York. The Bloomberg Dollar Spot Index rose 0.7% as all other precious metals fell. (By Swansy Afonso, Felix Njini and Andrea Bossi, with assistance from Martin Ritchie) More