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Gold January 10, 2022 04:00:03 PM

WGC: North American ETFs Led Net Gold Outflows in 2021

Paul Ploumis
ScrapMonster Author
The net outflows were mainly driven by North American funds, which registered net outflows of nearly 200t during the entire year.

WGC: North American ETFs Led Net Gold Outflows in 2021

SEATTLE (Scrap Monster): The World Gold Council (WGC) published new report outlining gold ETF flows during the previous year.

As per the report, the gold ETFs witnessed global outflows of 173 tonnes worth $9.5 billion in 2021. The collective gold holdings dropped significantly by 5% to 3,570t, whereas the assets under management recorded 9% year-on-year decline to total $209 billion in value terms. The gold ETF holdings managed to stay above pre-pandemic levels, despite considerable outflows during the previous year.

The net outflows were mainly driven by North American funds, which registered net outflows of nearly 200t during the entire year. It must be noted that the funds had recorded significant outflows in Q1. The outflows from the region were primarily led by large US funds. On the contrary, gold ETFs in the European region posted marginal net inflows of 0.7t, with flows turning positive in the second half of the year.

Meantime, the Asian ETFs added close to $1.5 billion over the year. The Chinese-based funds accounted for more than 60% of the total regional inflows. Low-cost ETFs managed to attract consistent inflows, adding 63t. These funds now account for nearly 6% of the global gold-based ETF market.

The WGC report noted that gold ETFs experienced net outflows of 6.4t during the month of December alone.

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