MONTHLY INCREASE
Total holdings in physically backed gold exchange traded products were 2 335.6 t, or 75.1-million ounces in September
Photo by: Bloomberg
At the end of last month, total holdings in physically backed gold exchange-traded products (ETPs) were estimated at 2 335.6 t, or 75.1-million ounces, representing a 38.1 t month-on-month increase, according to the World Gold Council’s (WGC’s) latest monthly gold-backed ETP update.
In value terms, total holdings were worth $99.3-billion – 3% higher than at the end of August.
The update stated that flows into North American and European ETPs were once again positive, with European ETPs increasing by 34 t, or 4%, to 876.9 t, while holdings in North American ETPs increased by 6.5 t, or 0.5%, to 1 339.6 t.
Asian ETPs decreased by 0.9 t, while other ETPs declined by 1.5 t, primarily as a result of outflows from the NewGold exchange-traded fund (ETF) in South Africa.
In Europe, Germany-based bearer bond Xetra-Gold registered the largest inflows during the month, seeing a 20%, or 18 t, increase to 109.7 t.
Gold ETPs in the UK increased by a total of 9 t, while those in Switzerland and Italy also saw growth in assets under management.
North America, SPDR gold shares increased 4.7 t to 948 t, while holdings in iShares Gold Trust grew by 1%, or 1.2 t, to 226.7 t.
Total holdings in Asian gold ETPs saw a marginal decline of 1% to 70.4 t, compared with the end of August.
The WGC update noted that the Guotai Gold ETF was the only Chinese ETF to see an increase during the month – up 0.4 t to 2.4 t.