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Gold July 12, 2021 04:20:36 PM

Global Gold ETF Inflows Held Steady in June: World Gold Council

Paul Ploumis
ScrapMonster Author
Combined, the North American and European funds added 43.8 tonnes during the second quarter of the current year.

Global Gold ETF Inflows Held Steady in June: World Gold Council

SEATTLE (Scrap Monster): The inflows into global gold ETFs flattened out during the month of June this year. The inflows totalled 2.9 tonnes during the month. The global assets under management (AUM) stood at 3,624 tonnes and were valued at $206 billion, said the World Gold Council (WGC).

The positive gold ETF inflows were despite significant weakness in gold prices during the latter half of the month, on account of hawkish outlook by the US Fed. This indicates that investors were keen to take advantage of the fall in gold prices to gain long exposure into the asset.

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The North American and Asian funds recorded inflows, whereas outflows were recorded by European funds, primarily by larger European funds based in the UK and Germany.  The German funds represented almost 50% of all European inflows. The North American funds added 10.5 tonnes, in contrast to European funds which recorded outflows of 9.4 tonnes. Meantime, the Asian-listed funds saw inflows of 2.3 tonnes, mainly led by China and India. The fund flows by ‘Other’ regions declined by 0.5 tonnes.

Combined, the North American and European funds added 43.8 tonnes during the second quarter of the current year. The funds in Asian region witnessed marginal outflows in the quarter.

 

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