https://www.miningweekly.com

Gold-based ETFs add 22.2 t in June

10th July 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – The global holdings of gold-backed exchange traded funds (ETFs) have increased by 22.2 t, or 74.4-million ounces month-on-month to 2 313.2 t at the end of June.

According to the latest data released by the World Gold Council (WGC), these holdings are valued at $92.4-billion, 1% lower when compared with May.

The WGC stated that North American and European funds showed the strongest growth, adding 12.8 t to 1 227.1 t, and 10.5 t to 977.7 t, respectively. Asia sold 1.3 t (-2%), added to 61.9 t, while funds in other regions increased marginally (+0.2 t) to 46.4 t.

The WGC highlighted that in North America, gains by iShares Gold Trust (+7.4 t) outpaced that of SPDR Gold Shares (+5 t). Their holdings at the end of June were 210.3 t and 852.5 t, respectively. 

In Europe, it was the UK’s Source Physical Gold P-ETC that witnessed the largest inflow worldwide in the month. Its holdings increased a massive 12.2 t (+12%) to 111.7 t.

In Asia, a decline of the Chinese fund holdings slowed in June. After falling below the 20 t mark during June, holdings of the Hua’an Yifu Gold ETF rebounded and ended the month at 20 t.

The spot gold price in New York fell by more than 4% in the past 30 days, from about $1 265/oz, to a bid price of $1 212.30/oz on Monday.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION