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Gold|Products
Gold|Products
gold|products

Gold-backed ETF holdings grew 14% in 2019

8th January 2020

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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Global gold-backed exchange-traded funds (ETFs) and similar products had $19.2-billion, or 400 t, of net inflows in 2019 after holdings rebounded in December, the World Gold Council (WGC) reports.

Collective ETF holdings reached all-time highs of 2 900 t in the fourth quarter.

Overall, global gold-backed assets under management (AUM) grew by 37% in dollar terms during the year as a result of positive demand, combined with an 18.4% increase in the gold price.

From a regional perspective, North American funds had inflows of 206 t ($10.1-billion, 14.4% AUM). The WGC points out that low-cost gold-backed ETFs in the US have seen positive flows for 18 of the past 19 months and increased their collective holdings by 60%.

Holdings in European funds increased by 188 t ($8.8-billion, 13.6%), while funds listed in Asia were nearly flat, losing 0.1 t ($12-million, 0.3%).

All other regions had combined inflows of 6.3 t ($311-million, 16.3%).

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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