Loading prices...

Register/Sign in
ScrapMonster
Gold July 10, 2024 08:40:06 PM

WGC: Gold ETFs Posted Worst H1 Dip in 11 Years

Paul Ploumis
ScrapMonster Author
According to the Council, the global physically-backed gold ETFs witnessed inflows amounting to $1.4 billion in June this year.

WGC: Gold ETFs Posted Worst H1 Dip in 11 Years

SEATTLE (Scrap Monster): The global gold exchange traded funds (ETFs) recorded losses of around $6.7 billion during the initial six-month period of the current year, said the latest report published by the World Gold Council (WGC). This is the worst H1 for global gold-backed ETFs in more than a decade.

The collective gold ETF holdings dipped by 120 tonnes to 3,105 tonnes during Jan-June ’24. While Asian funds reported inflows, the North American and Europe funds recorded collective outflows, outpacing the Asian inflows. The North American H1 outflows were the largest in three years, WGC report said.

Meantime, sustained inflows during June has narrowed H1 losses. Also, the notable rise in gold prices have resulted in overall increase in assets under management (AUM) of gold ETFs by 8.8% during the year-to-date period.

According to the Council, the global physically-backed gold ETFs witnessed inflows amounting to $1.4 billion in June this year. This was the second consecutive month of inflows, it noted. All regions, except North America, witnessed positive gains during the month. The North American funds shed around $573 million in June 2024.

The total AUM remained more or less stable at $233 billion at the end of the month, on account of dip in gold prices during the month.

YOU MAY ALSO BE INTERESTED IN:

WGC: Global Central Banks Boosted Gold Holdings in May 2024

World Gold Council Published Gold Mid-Year Outlook 2024

How to Recycle

Simple Ways to Dispose of Tires

Simple Ways to Dispose of Tires

Are you in search of some simple and eco-friendly methods to help you responsibly dispose of tires, then read our blog post to learn more.
Recycling and Disposal of Light Bulbs – More to Know

Recycling and Disposal of Light Bulbs – More to Know

Proper disposal of all types of light bulbs, protects the environment and recovers valuable materials.
How to Get Rid of Shredded Paper - Recycling Options

How to Get Rid of Shredded Paper - Recycling Options

Thinking how to get rid of shredded paper? Well, there are many recycling options. Read More.
powered by RecyclingMonster
×

Quick Search

Advanced Search