Dec 12: The World Gold Council has reported that holdings in global gold-backed ETFs (Exchange Traded Funds) ahve rise for the second consecutive month to 2,365 tons. It rose by 21.2 tonnes in November or equivalent to US$804 mn in inflows. The global gold backed ETF inflows are now positive in US dollar terms in 2018, the report said.
Regional fund flows
Holdings in European funds rose by 10.5t (US$372mn, 0.9% AUM)
North American funds had inflows of 8.4t (US$353mn, 0.8%)
Funds listed in Asia increased by 2.1t (US$72mn, 2.3%)
Other regions saw a small increase in holdings of 0.2t (US$7mn, 0.6%)
Collectively, US dollar flows in gold-backed ETFs are now positive having raised US$354mn (0.40% AUM), despite the recent trend driven by a strong US dollar and bearish gold market sentiment.North America reported a second monthly inflow after six consecutive months of outflows but remain negative on the year by 50.0t (US$2.1bn, 4.6%)
By contrast, European funds continue to see net positive inflows with $2.9bn coming in (7.1%) y-t-d
After starting the year strong, Asian funds have given up all their gains and are now negative losing 1.5% of their assets y-t-d.