https://www.engineeringnews.co.za

Europe, Asia drove ETF holdings higher in May – WGC

6th June 2018

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

Global gold-backed exchange-traded fund (ETF) holdings added 15 t to 2 484 t in May, the World Gold Council (WGC) reported on Wednesday.

Europe and Asia drove inflows, with European funds having responded strongly in the past two months.

North American fund flows reversed their early 2018 trend as they lost 2.3% of assets, likely a result of the volatile prices in the gold market, which left gold lower by 60 basis points (in dollar terms) in the month.

Volatility and weakness in the gold market were largely driven by a stronger dollar; however, US dollar-hedged gold was higher by 1.4% on the month.

This highlights the WGC’s view that having some allocation to US dollar-hedged gold helps risk-adjusted returns by lowering price volatility in periods when currency prices fluctuate.

Meanwhile, the WGC reported that North American funds lost 30 t ($1.2-billion), while European funds saw solid net inflows of 26 t ($1.2-billion) in May. Total fund holdings in Asia rose by 21 t ($862-million), while funds in other regions lost 2 t, or 6% of assets.  

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.072 1.115s - 140pq - 2rq
Subscribe Now