Retail investors are rushing back into gold: The largest US physical-gold backed ETF, GLD, attracted +$50 million in retail inflows on Wednesday, the largest daily inflow since March. This was also twice the previous largest daily inflow recorded since early April. Overall, GLD attracted +$637 million in inflows on Wednesday, the largest daily inflow since June 18th. Subsequently, the fund posted +$77 million and +$431 million in inflows on Thursday and Friday, respectively. So far in August, investors have added +$1.4 billion to GLD, putting the ETF on track for its first monthly inflow since February. Investor appetite for gold is back.(The Kobeissi Letter)