Year-to-date gold ETF inflows outpace records for any calendar year

4th June 2020 By: Marleny Arnoldi - Deputy Editor Online

Year-to-date gold ETF inflows outpace records for any calendar year

Photo by: Creamer Media

Gold-backed exchange traded funds (ETFs) added 154 t to global holdings, amounting to net inflows of $8.5-billion across all regions in May.

This continued growth streak has boosted global holdings to a new all-time high of 3 510 t, reports the World Gold Council (WGC).

The year-to-date inflows of 623 t, valued at $33.7-billion, now exceed what was initially the highest level of annual inflows of 591 t in 2009.

Meanwhile, of these inflows for May, North American ETFs increased their holdings by 102 t, or $5.6-billion, European funds increased their holdings by 45 t, or $2.4-billion, with the balance of gold inflows occurring in Asia and other regions.

The WGC says assets in global gold-backed ETFs have nearly doubled over the past 12 months.

The UK-based gold funds continue to take regional and global market share, now representing 48% of European assets and 21% of global assets.

Further, the council states that low-cost gold-backed ETFs in the US have doubled their collective holdings in the past year to 99 t, which is roughly the size of all Asia-based funds.