SPDR Gold Shares Gold ETF Recorded Significant Outflows
The Asian inflows were led by E Fund Gold in China, which recorded gains of 1.6 tonnes, which were partially offset by outflows of 0.7 tonnes from Huaan Yifu Gold ETF.
The report published by the World Gold Council (WGC) noted that gold inflows into European funds were mostly offset by outflows from North American funds.
The North American and European funds together added 9.8 tonnes during the quarter. The North American funds recorded an outflow of 7.30 tonnes, whereas the holdings in European ETFs surged higher by 17.1 tonnes. The funds listed in Asia witnessed net inflows of 1.0 tonne, mainly aided by positive investment demand in China. Also, Other regions saw marginal inflow of 0.3 tonnes.
Among North American funds, SPDR Gold Shares lost 14.3 tonnes, whereas iShares Gold Trust recorded outflows of 5.2 tonnes. On the other hand, recently launched iShares Gold Trust Micro added 9.8 tonnes. Also, holdings in SPDR Gold MiniShares were up by 0.5 tonnes.
The fund inflow in European region was led by Invesco Physical Gold, which recorded inflows of 5.4 tonnes. In second place was Xetra Gold, which reported inflows of 3.4 tonnes, followed by UBS ETF Gold, which increased its net gold holdings by 1.8 tonnes, WGC report said
The Asian inflows were led by E Fund Gold in China, which recorded gains of 1.6 tonnes, which were partially offset by outflows of 0.7 tonnes from Huaan Yifu Gold ETF.
Till date, global gold ETFs witnessed outflows of 118 tonnes, mainly led by North American funds.
Reference: scrapmonster, spdr
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