Holdings in global gold-backed exchange-traded funds (ETFs) and similar products fell by 23.7 t to 2 329 t in September – the fourth consecutive month of falls – equivalent to $932-million in outflows, the World Gold Council (WGC) reported on Thursday.
This, in addition to a drop in the gold price of 1.1% during the month, pushed assets under management (AUM) in dollar terms down by 2.3% month-on-month, the WGC added.
Flows in North American gold-backed ETFs were mixed, but ultimately negative, while European and Asian funds experienced net outflows again in September after growing slightly in August.