Gold ETFs close H1 with record US$40bn of net inflows

IMG Auteur
 
Published : July 15th, 2020
164 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

World Gold Council/GoldHub

“Gold-backed ETFs (gold ETFs) recorded their seventh consecutive month of positive flows, adding 104 tonnes (t) in June – equivalent to US$5.6bn or 2.7% of assets under management (AUM).  This brings H1 global net inflows to 734t (US$39.5bn), significantly above the highest level of annual inflows, both in tonnage terms (646t in 2009) and US-dollar value (US$23bn in 2016). To put this strength of demand into context, H1 inflows are also significantly higher than the multi-decade record level of central bank net purchases seen in 2018 and 2019, and could absorb a comparable amount of about 45% of global gold production in H1 2020.”

Chart courtesy of GoldChartsRUs.com

USAGOLD note:  That last statistic WGC quotes – 45% of global gold production being absorbed by ETFs – is probably the most salient.  It is also interesting to note the current level of holdings greatly exceeds stockpiles in the period after the 2008 financial crisis when gold plied all-time highs.


Repost from 7-9-2020

Read the rest of the article at USA Gold
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.