Research library

Holdings in global gold-backed ETFs and similar products rose by 69 tonnes(t) to 2,440t in 2018, equivalent to US$3.4bn of inflows. Global gold-backed ETFs grew 3% in 2018, driven by strong growth in European funds and increased global inflows during December.** This is the first time since 2012 that the value of total gold-backed ETF holdings has finished the year above US$100bn. 

Holdings in global gold-backed ETFs and similar products rose sharply in June by 127 tonnes (t) to 2,548t – equivalent to US$5.5bn in inflows – as geopolitical uncertainty increased and central banks signalled a shift to a more accommodative policy over the coming months. This drove rates and the US dollar lower and shifted the momentum in gold as its price moved to a six-year high.

全球黄金ETF及类似产品的黄金持有量在五月小幅下滑2.2吨，总量降至2,421吨，总体流出量约合1.41亿美元。欧洲地区黄金ETF规模有所增长，但基本被北美在本月早些时候以及亚洲基金的流出抵消。而全球黄金ETF资产管理总规模由于五月黄金价格上升1.7%而增长了1%，至1,010亿美元。更高的不确定性及市场波动率支撑了最近几周资产向黄金ETF的流入。

In April, holdings in global gold-backed ETFs and similar products fell across all regions by 57 tonnes(t) to 2,424t, equivalent to US$2.2bn in outflows. Global assets under management (AUM) in US dollars fell by 3% to US$100bn, as the price of gold of gold fell 1% during the month. Global gold-backed ETFs have now lost assets of US$377mn, 0.4% AUM on the year, reversing January’s strong start.

2019年2月，全球黄金ETF和类似产品的黄金持仓总量微增3吨，升至2,483吨，相当于流入资金1. 83亿美元。由于本月黄金价格下跌2%，其全球管理资产规模（AUM）下滑1.6%，至1030亿美元。依托1月份的强劲流入，全球黄金ETF净流量本年度仍保持正值（+19亿美元，+1.9%）。

2019年2月，在连续四个月录得流入后，全球黄金ETF和类似产品的黄金持仓总量减少了33吨，降至2,479吨，相当于流出资金13亿美元。黄金ETF的全球管理资产规模（AUM）月内小幅收缩2%，余额为1050亿美元。不过得益于1月份的强劲流入，全球黄金ETF的净流量在本年仍保持正值（+17亿美元，+2%）。