North America boosts global gold-backed ETF inflows to 72 t in January
Holdings in global gold-backed exchange traded funds (ETFs) and similar products rose by 72 t in January to 2 513 t, which is equivalent to $3.1-billion in inflows.
This marked the fourth consecutive month of net inflows, said a monthly report by Gold Hub, which is an initiative of the World Gold Council.
Notably, total holdings have not been this high since March 2013, when the price of gold was 22% higher.
Global gold-backed ETFs have grown by 6% over the past two months, driven by market uncertainty and a shift in sentiment that drove the price of gold 3.5% higher in January alone.
During January, global assets under management rose by 6% to $107-billion.
North American inflows represented 72% of global inflows, at 53 t. Holdings in European funds rose by 20 t.
Gold-backed ETFs and similar products account for a significant part of the gold market, with institutional and individual investors using them to implement many of their investment strategies.
Flows in ETFs often highlight short-term and long-term opinions and desires to hold gold.
The data in Gold Hub’s report tracks gold held in physical form by open-ended ETFs and other products such as close-end funds, and mutual funds. Most funds included in this list are fully backed by physical gold.
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