Gold ETFs Witnessed Inflows Amidst Recovery in Gold Prices

SEATTLE (Scrap Monster): The inflows into global gold exchange traded funds (ETFs) remained marginally positive during the month of July this year, said the latest report published by the World Gold Council (WGC). The positive inflows came amidst recovery in gold prices in July, especially during the latter half of the month.

According to WGC, the inflows totalled 11.1 tonnes valued at $669 million during the month. The significant outflows from large North American funds nearly offset inflows into funds in the European and Asian region. The global assets under management (AUM) as at the end of the month stood at 3,636 tonnes, which were valued at $214 billion.

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The inflows were led by European funds, especially those in Germany and the UK. The funds in Europe saw addition of 17.1 tonnes. The Asian listed funds registered inflows of around 1 tonne. On the contrary, larger US funds led the 7.3 tonnes of outflows from the North American funds. Incidentally, the two largest U.S. funds reported combined outflows of more than $1.1 billion. Meantime, the fund flows in ‘Other regions’ recorded a growth of 0.6%, adding 0.3 tonnes.

To date, global gold ETFs recorded outflows of 118 tonnes, mainly led by North American funds, said the WGC report.