Gold demand continues to surge: Global gold ETF holdings rose by +27 tonnes on Friday, the biggest daily increase since January 2022. This is DOUBLE the daily average seen so far this year. As a result, gold-backed ETFs increased +0.9%, the largest single-day percentage gain since 2022. Gold prices are now on track for their 6th consecutive weekly gain, the longest streak since February. Meanwhile, daily options volume of the largest silver ETF, SLV, spiked to 1.2 million shares on Friday, the highest since April 2024. Precious metals are making history.(The Kobeissi Letter)