Inflow into technology ETFs hits highest level since 2024, World Gold Council: Patience remains the main theme
- The World Gold Council stated that global technology ETF monthly capital inflows have reached their highest level since the beginning of 2024. This data indicates that, despite ongoing concerns about a stock market bubble, capital continues to flow into the technology sector and investor preference for growth assets has not significantly diminished.
- From a trading psychology perspective, the Council noted that investors may remain patient until there is a substantial weakening in risk appetite or a broader risk-off unwinding occurs. Only if one of these two scenarios emerges is there a possibility of renewed demand for safe-haven assets, thereby providing support to gold and similar assets.
- Looking ahead, the focus is on whether capital inflows into technology stocks can be sustained and when a potential stock market correction might trigger investors to shift from pursuing risk to seeking safety. Currently, the market remains in a stage where risk appetite persists, so gold's short-term performance may continue to be under pressure until broader market sentiment shifts.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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On October 8, Revolution Medicines (RVMD.O) shares fell 8.1% in afternoon trading to $185.91. RBC Capital Markets stated that the share price decline appeared to be driven by the latest U.S. Food and Drug Administration (FDA) review documents regarding the company's pancreatic cancer drug Rasonque, particularly the disclosure of objective response rate data for specific RAS mutation subgroups. RBC pointed out that overall survival, rather than objective response rate, is a more meaningful indicator of efficacy, and that the sell-off overlooked Rasonque's broad activity across a variety of RAS mutation subgroups. RBC stated: "While we acknowledge that today's share price decline takes place against the backdrop of overall weakness in the biotech sector, we still believe that the market's reaction to the FDA review documents is an overreaction, given that the drug was approved on the basis of highly clinically meaningful efficacy and has received positive feedback from physicians." Including intraday fluctuations, the stock has more than doubled year-to-date. (Note: For the convenience of non-English speakers, Reuters has automatically translated its reports into several other languages. Automated translations may be inaccurate or lack necessary context; Reuters does not guarantee the accuracy of these automated translations and provides them only for reader convenience. Reuters does not accept liability for any damage or loss arising from the use of automated translation features.)
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