SPDR Gold Shares Posted Highest Outflows From Its Gold Holdings

SEATTLE (Scrap Monster): The World Gold Council (WGC) reported that global gold ETFs witnessed net outflow of 84.7 tonnes during the month of February this year. The assets under management (AUM) at the end of the month stood at 3,681 tonnes, which equates to almost $270 billion by value.

The North American funds posted outflow of 71.2 tonnes. The SPDR Gold Shares lost 66.6 tonnes from its total holdings. The fund value recorded a decline by $3.8 billion. The fund to report second highest outflow was iShares Gold Trust, which lost 7.2 tonnes. This translates to a dip in value by $406 million. On the contrary, SPDR Gold MiniShares saw its holdings rise by 2.3 tonnes. Also, holdings in Graniteshares Gold Trust witnessed marginal up move by 0.4 tonnes.

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The fall of 23.8 tonnes in European funds was mainly led by three UK-listed funds. Invesco Gold holdings were down by 8.6 tonnes. Also, iShares Physical Gold and Gold Bullion Securities lost 5.2 tonnes and 2.7 tonnes respectively.

The funds in Asian region reported outflows of 0.3 tonnes. All major funds added to their gold holdings. For instance, Huaan Yifu witnessed inflows of 4.8 tonnes, whereas Bosera Gold added 2.2 tonnes. Also, Nippon India ETF holdings saw an increase by 4.2% during the month.