Gold ETFs hit record high in first-quarter surge, says World Gold Council
The highest quarterly amount of exchange-traded-fund (ETF) gold ever in absolute US dollar terms and the largest tonnage additions since 2016 were realised in the first quarter of this year, the World Gold Council (WGC) reported last month.
First-quarter global gold-backed ETFs and similar products added 298 t, representing net asset growth of $23-billion across all regions.
This followed last year’s full-year performance of gold ETFs adding 659 t, the highest on a rolling annual basis since the financial crisis, with assets under management growing 57% over the same period.
In the month of March, gold ETFs added 151 t, generating 5% higher net inflows of $8.1-billion and boosting holdings to a new all-time high of 3 185 t.
Trading volumes and assets under management reached record highs as gold volatility increased to levels last seen during the global financial crisis, yet gold price performance was mostly flat in dollar terms for the month.
Gold prices denominated in many other currencies, however, continued to reach all-time highs, although the price in US dollars remained 15% below its 2011 high.
This highlights a continued trend of growth in gold ETFs outside the US over the past few years, underscored by European funds seeing the largest absolute inflows and Asia and other regions registering the largest percentage growth during the month, the WGC said in a media release to Engineering News & Mining Weekly.
Over the past 12 months, assets in global gold-backed ETFs have grown 56%.
Following the March inflows, both holdings and assets of gold-backed ETFs are at all-time highs.
UK-based gold funds continue to take regional and global market share, now representing 46% of European assets and 21% of global assets.
Low-cost gold-backed ETFs in the US have seen positive flows for 21 of the past 22 months and have increased their collective assets by 263%.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.
VISIT SHOWROOM
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
