Global ETF Gold Holdings fall 49.3 tons during June: World Gold Council

July 9, 2018

Johannesburg-SA (July 9)  The amount of gold held by global exchange-traded funds and similar products fell by 49.3 tons to 2,434.3 tons in June, according to the World Gold Council.

 In U.S. dollar terms, assets under management fell 2.1% from May to $97.9 billion.

“Investors seemed to shrug off poor equity-market performance and escalating global trade tensions, pushing the gold price down by 4.2% in June,” the WGC said.

 The ETFs trade like stocks but track the price of the commodity, with metal put into storage to back the shares. The product gives investors exposure to the price of gold without having to take on certain expenses, such as assaying and storage.

 The bulk of the outflows came from North America, as these holdings declined by 44.4 tons, the WGC said.

 Asian-listed ETFs posted outflows of 3.5 tonnes, while holdings by European ETFs climbed by 0.5 tonne. Holdings in other regions fell 2 tons.

 Among individual ETFs, holdings in SDPR Gold Shares and iShares Gold Trust led the declines in North America, losing 28 and 17.4 tons, respectively. Graniteshares Gold Trust registered the largest growth in the region, rising by 5.9 tons.

 European inflows were driven by UBS ETF CH-Gold, increasing by 4.4 tons, and Xtrackers Physical Gold, up 1.2 tons.

 Growth in the China-listed Bosera Gold ETF holdings stalled slightly, with a 2.2-ton outflow in June.


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