Metal Price
Scrap Monster
Vulcan
Gold November 06, 2020 03:40:19 PM

Gold-backed ETF Holdings Hit New All-Time Peak in Q3

Paul Ploumis
ScrapMonster Author
The majority of inflows came from European funds, which reported addition of 20.2 tonnes of gold in October 2020.

Gold-backed ETF Holdings Hit New All-Time Peak in Q3

SEATTLE (Scrap Monster): The ETF monthly commentary released by the World Gold Council (WGC) states that positive inflows into gold-backed ETFs continued during the month of October this year, although at a notably lower pace. It was the 11th straight month of net inflows, said WGC.

The gold ETF holdings have improved by 20.3 tonnes during the month. By value, the assets under management have increased by $1.4 billion. The net inflows totalled 1,022 tonnes during the year-to-date period in 2020. Also, global gold ETF holdings touched new all-time highs of 3,899 tonnes.

RELATED NEWS:

Gold Jewellery Demand Plummeted 29%, As Prices Hit Historic Highs

World Gold Supply Declined 3% in Q3, Says WGC Demand Trends Report

The majority of inflows came from European funds, which reported addition of 20.2 tonnes of gold in October 2020. The WisdomTree Physical Gold GBP Hedged added 10.2 tonnes, followed by Invesco Physical Gold ETC, which added 3 tonnes.

The North American funds added only 1.8 tonnes, whereas the Asian funds reported marginal inflows of 1.1 tonnes. The inflows were mainly driven by iShares Gold Trust, which added 9 tonnes and SPDR Gold MiniShares, which reported addition of 2.5 tonnes. On the contrary, the SPDR Gold Shares reported outflows of 11.2 tonnes.

Meantime, the funds listed in other regions witnessed significant outflows totalling 2.8 tonnes. 1nvest Gold ETF saw outflows of 2.3 tonnes.

SM Newsletter
Subscribe to SM mailing list and get updates to your inbox
Facebook Twitter Linkedin Instagram