Gold

June was a historic month for gold

Data: Investing.com; Chart: Axios Visuals

Gold-backed ETF holdings have risen to the highest level since early 2013, with June showing the largest inflows in more than 3 years, data from the World Gold Council's June report shows.

What's happening: Investors have flocked to gold as expectations have risen for the Fed to lower interest rates, which is expected to push down the value of the dollar, and as continued global uncertainty has sent money into safe-haven assets.

China's central bank buys gold for 6th straight month

The People's Bank of China added nearly 16 tons of gold to its reserves in May, the sixth straight month China's central bank has added to its gold reserves.

Why it matters: The Chinese have been working to move away from the dollar as the world's international funding currency for years. They've increased these efforts since President Trump's election.