Bringing you live news and features since 2006 

August sees third month of inflows into gold ETFs says WGC

RELATED TOPICS​

The World Gold Council reports that August was another strong month for gold-backed ETFs as gold prices surged, trade tensions spiked, the yield curve inverted and the Dow saw the worst day of trading so far this year.

The World Gold Council reports that August was another strong month for gold-backed ETFs as gold prices surged, trade tensions spiked, the yield curve inverted and the Dow saw the worst day of trading so far this year.

Against this backdrop of risk-off sentiment, global gold-backed ETFs and similar products saw USD6.0 billion of net inflows across all regions, increasing their collective gold holdings by 122t (5 per cent) to 2,733t, according to new data from the World Gold Council.
 
This is the third straight month of momentum with gold-backed ETFs adding 13 per cent to their holdings during that period, the Council says.
 
Over August, the WGC reports that all key markets experienced inflows, with European-listed funds bringing in 33t (USD1.7 billion, 2.8 per cent), mainly via the UK as the pound continued to weaken and the probability of a ‘no-deal Brexit’ became more likely, the Council comments.
 
Meanwhile, North America funds led August’s flows, adding 78t (USD3.8 billion, 5.5 per cent of AUM), while Asian funds added 9t (USD468 million, 12 per cent) reversing year-to-date outflows.
 
Low-cost gold-backed ETFs accumulated 2.3t during the month, bringing their joint holdings to an all-time high of 58t, worth USD2.8 billion, the WGC says.
 
As the gold price in US dollars increased by an additional 7 per cent in August, global assets under management rose 12 per cent to USD134 billion.
 

Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by