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Outflows in gold-backed ETFs slowing – WGC

4th October 2018

     

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Holdings in global gold-backed exchange-traded funds (ETFs) and similar products fell by 23.7 t to 2 329 t in September – the fourth consecutive month of falls – equivalent to $932-million in outflows, the World Gold Council (WGC) reported on Thursday.

This, in addition to a drop in the gold price of 1.1% during the month, pushed assets under management (AUM) in dollar terms down by 2.3% month-on-month, the WGC added.

Flows in North American gold-backed ETFs were mixed, but ultimately negative, while European and Asian funds experienced net outflows again in September after growing slightly in August.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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