The Global Experts on Gold

Against a backdrop of persistent inflation and challenging growth prospects, Japanese investors are reassessing their portfolios. Gold is emerging as highly relevant amid its record-shattering rally in recent years and the current inflationary environment in Japan. 

Global physically backed gold ETFs saw inflows three months in a row, adding US$5.5bn in August. North American and European funds led inflows while Asia experienced continued outflows. Supported by continued inflows and a higher gold price, global gold ETFs’ total AUM rose 5% to US$407bn, another month-end record. Meanwhile, holdings rebounded 53t to 3,692t.

A strong rally into month-end saw gold reach US$3,429/oz (+4%), and as of the end of August, gold was up 31% for the year. Gold gained in all major currencies, despite a much weaker US dollar (Table 1). And the positive momentum has carried on in early September.

Data on sectors of gold demand, supply, productions costs and futures market positioning

Benchmark gold prices, gold futures curves and local price premium/discount

Returns, volatility, correlations and trading volumes for gold, bonds, equities and other major asset classes

Data on central bank gold holdings, sales and purchases, as well as insights from annual surveys into central bank attitudes towards gold.