JOHANNESBURG (miningweekly.com) – Total holdings in gold-backed exchange-traded funds (ETFs) increased 10.5 t in May to 2 291.9 t or 73.7-million ounces.
The value of the holdings remained flat at $93.3-billion in May, when compared with the preceding month, the World Gold Council’s monthly gold-backed ETF holdings update shows.
The monthly update noted that European inflows were more than double the North American outflows during the month of May.
Holdings in Europe ticked up 2% month-on-month to 967.2 t, while North America registered a 7.2 t drop to 1 214 t.
In Asia, holdings decreased 3% to 64.5 t.