Gold ETFs record ninth consecutive month of inflows
Gold-backed exchange-traded funds (ETFs) and similar products recorded their ninth consecutive month of inflows in August, albeit at their slowest pace for this year, adding 39 t during the month – equivalent to $2.1-billion, or 0.9%, of assets under management (AUM) as the price of gold reached a record high of $2 067/oz early in August.
The World Gold Council (WGC) reports that, in August, as equities continued to increase to new all-time highs, interest rates rose and yield curves steepened, investor positioning in the gold market consolidated later in the month and the gold price ended the month slightly lower, at $1 957/oz, for the first time in five months.
Year-to-date global net inflows of 938 t ($51.2-billion) have taken collective gold ETF holdings to a fresh new all-time high of 3 824 t, and AUM to $241-billion.
In terms of regional flows, North American funds recorded 41 t, worth $2.5-billion, and AUM of 1.9%. North American funds account for two-thirds of global net inflows in the year.
Holdings in European funds decreased by 0.9% to 11 t ($937-million). Funds listed in Asia saw holdings rise by 6.5%, to 7 t ($459-million).
Other regions saw inflows rise by 2.7%, to 1.9 t ($108-million).
In terms of long-term trends, the WGC points out that over the first eight months of the year, global gold ETF holdings, in tonnes, have increased by 38%, with collective gold ETF AUM having grown by 70% until August.
Further, the WGC says holdings in both tonnage and value terms continue to reach new highs.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation