JOHANNESBURG (miningweekly.com) - Gold-backed exchange-traded funds (ETFs) added 27.6 t in January, the World Gold Council (WGC) reported on Thursday.
It added that North American funds accumulated 21.5 t of gold valued at $940-million, with 1.8% of assets under management.
The WGC stated that North America had led global inflows as the gold price continued its late 2017 rally, as the dollar weakened.
US-listed ETFs, however, accounted for 73% of global net inflows in January, thereby reversing the 2017 trend of European funds dominating net inflows.
European funds added 7.6 t of gold, valued at $35-million.
Asian funds, however, lost 1.4 t of gold to the value of $33-million.
Other regions, WGC further mentioned, had marginal outflows of 0.1 t, which is equal to $9-million.