WGC Recorded Robust Gold ETF Inflows in July
Mon Aug 12 2024
The World Gold Council (WGC), said in a recent report, that the global gold exchange traded funds (ETFs) experienced their strongest month since April 2022 in July this year. All the regions recorded inflows, with Western funds recording the strongest inflows, the report noted.
The global gold ETFs added $3.7 billion in July this year, recording the third consecutive month of inflows. The total global assets under management (AUM) surged higher by 6% to touch a new month-end record of $246 billion. The collective gold ETF holdings totalled 3,145 tonnes at the end of July this year, with addition of 48 tonnes during the month, WGC report said.
The North American funds saw inflows of around $2 billion, thus reversing the trend of outflows recorded during the prior months. Till date, North American funds recorded outflows amounting to $9.2 billion. The collective regional gold holdings posted decline by 52 tonnes in the first seven months of the year.
The European region gold ETFs attracted $1.2 billion in July 2024, led by the UK and Switzerland. The Asian region added $483 million to its holdings during the month, led by India. The region has now recorded inflows for the seventeenth month in a row.
Source: https://www.scrapmonster.com