https://www.engineeringnews.co.za

Gold-backed ETFs increased by 9.1 t in November

6th December 2017

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

Font size: - +

Gold-backed exchange-traded funds (ETFs) grew by 9.1 t during November, World Gold Council (WGC) data showed on Wednesday.

With global gold-backed ETFs collectively holding 2 357 t, funds added 198 t of gold, equivalent to $8.5-billion, so far this year, which represents an increase of 8.3% in global assets under management from December 2016.

European funds continued to lead inflows and captured 75% of global inflows this year, adding 143 t ($5.7-billion, or 14% of assets under management) of gold to their holdings in 2017.

Germany-based ETFs accounted for 34% of global net inflows in 2017. Xetra-Gold alone accumulated 53.3 t ($2.1-billion) – a 49% increase year-to-date. However, these funds’ growth has halted over the past two months, according to the WGC.

Investors in European funds added 15.8 t, or about $622-million, while North America saw a second month of outflows of 5.4 t or $198-million.

Various individual funds are highlighted in the report. iShares Physical Gold ETC added 7 t, worth $292-million, or 3.1% of assets under management; Physical Gold Euro Hedged ETC added 5.3 t, worth $195-million, 14% of assets under management; UBS ETF CH-Gold CHF hedged added 4.2 t, at $163-million, 19% of assets under management; and Physical Gold ETC EUR added 2.3 t, at $95-million, and representing 18% of assets under management.

Meanwhile, SPDR Gold Shares led outflows worldwide and in North America with 11.2 t ($451-million, or 1.3% of assets under management) coming out of the fund.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.064 0.128s - 156pq - 2rq
Subscribe Now