Dollars are falling from the sky into the gold sector. Global gold holdings in exchange-traded funds (ETFs) have topped 2 000 t for the first time since June 2013, which Sharps Pixley commentator Tyler Durden calculates is equal to Switzerland’s gold holdings times two and a quarter of the US holding. GoldMoney VP John Butler reports institutional buyers of ETFs as being the big gorilla in the room. The People’s Bank of China officially added 15 t of gold to its reserves in June, the largest monthly addition since January, and what it does unofficially continues to go under the radar. BullionVault reports that Japanese investors are buying gold for storage in Switzerland after having lost faith in the Bank of Japan’s ability to weaken the yen, and cash is coming out of the ears of South Africa’s gold companies on a rising dollar price and local currency depreciation.