I’ve done a number of interviews on gold recently and the number one question I get most from reporters is—can gold prices go higher?

My answer is yes.

The monthly ETF statistical bulletins have become somewhat predictable in recent months, as continued inflows into the ETF industry have been about as certain as death and taxes. So the latest figures from the NSX came as a bit of a shock; total ETF assets declined from about $835 million to $815 million during the month of August. And while much of that drop was attributable to falling asset values, the industry also saw cash outflows for only the second time this year.

Cash outflows in August totaled $1.9 billion, though that figure would have been positive if not for the S&P 500 SPDR (SPY), which saw $6.6 billion of outflows. The last time the ETF industry saw net outflows for a month was in January, when a little more than $17 billion went out the door. Every month since then has been positive, with about $66 billion flowing into exchange-traded products during those six months.

Several times a week, Seeking Alpha's Jason Aycock asks money managers about their single highest-conviction position - what they would own (or short) if they could choose just one stock or ETF.

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Analyst Kevin Grewal is founder, editor and publisher of ETF Tutor, and editor at SmartStops.net and the ETF Institute. Previously, he worked as an analyst at a small hedge fund.

Which single asset class are you most bullish (or bearish) about in the coming year? What ETF position would you choose to best capture that?