SEATTLE (Scrap Monster): The gold-backed ETFs registered modest outflows during the second quarter of the year, said the Gold Demand Trends Q2 2022 report published by the World Gold Council (WGC).
According to the report, gold ETFs shed some of their Q1 gains. The global holdings reported decline by 39 tonnes in Q2 this year. It must be noted that gold ETFs had reported Q1 inflows of 273 tonnes. The outflows extended in the month of July as well, with largest outflows reported in North American and European-listed funds.
The North American-listed funds saw the biggest outflows during the second quarter, losing 42 tonnes. The outflows were concentrated among the largest and most liquid US funds. The European funds witnessed modest Q2 inflows of just 5 tonnes. The growth in the UK, Germany, Ireland and France was offset by outflows from Swiss-based funds, noted WGC report.
The gold ETF holdings in Asian region witnessed minor losses in Q2. The holdings fell by approximately 1 tonne. The major contributor to the regional decline was Chinese-based funds. The Indian ETFs attracted 3 tonnes of inflows in Q2. Meantime, the funds listed in other regions were little changes during the quarter, with modest inflows into Australian funds resulting in fractional growth.
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