Gold ETF Outflows Driven by SPDR Gold Shares and iShares Gold Trust

SEATTLE (Scrap Monster):  The report published by the World Gold Council (WGC) noted that gold ETF outflows from North American funds outweighed inflows into European and Asian funds.

The North American funds recorded an outflow of 32.2 tonnes. The SPDR Gold Shares and iShares Gold Trust in the U.S. drove global outflows during the month of August this year, which were partially balanced by inflows into Invesco Physical Gold Fund in the UK. The SPDR Gold Shares lost 31.2 tonnes, while iShares Gold Trust witnessed outflows of 3.7 tonnes. On the contrary, SPDR Gold MiniShares added 1.4 tonnes, while Sprott Physical Gold Trust recorded inflows of 0.8 tonnes, which helped to marginally offset some of the outflows.

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The fund holdings in European region had inflows of 9.6 tonnes. Invesco Physical Gold had inflows of 9.2 tonnes, while Xetra Gold added 2.7 tonnes. On the other hand, holdings in iShares Physical Gold were down by 1.4 tonnes.

The funds listed in Asia reported net inflows of 0.8 tonnes. The inflows into Chinese funds Bosera Gold Exchange of 0.5 tonnes and E Fund Gold of 0.4 tonnes were partially offset by outflows from Indian fund ICICI Prudential Gold ETF of 0.3 tonnes. Meantime, the outflows from Other regions totalled 0.5 tonnes, WGC report noted.