Woke up and saw some data: over the past week, gold funds experienced a net outflow of more than $7.5 billion, marking the largest net outflow in the history of gold funds. Of course, this outflow is still nothing compared to the cumulative net inflow of $59 billion over the past four months. But interestingly, this $59 billion might just be 'exit liquidity.' More importantly, the outflow from gold funds indicates that some investors' risk-averse sentiment is starting to weaken, their risk appetite is increasing, and they believe the macroeconomic risks in the U.S. are easing. In plain terms, this portion of funds flowing out of gold is very likely heading into risk markets. Sponsored by @Bitget｜Save the most on fees, grab the best rewards, become a VIP—head to Bitget!