Demand and supply

Data on gold demand and supply, including production costs, gold-backed exchange-traded funds (ETFs) holdings and flows, central bank statistics and future market positioning.

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Global gold-backed ETF holdings and flows

Physically backed gold ETFs saw global outflows of 173 tonnes (t) (-US$9.1bn, -4.0% AUM) in 2021. Collective gold holdings were down 5% to 3,570t for the year, while assets under management (AUM) in value terms dropped 9% to US$209bn as net outflows were compounded by a 4% contraction in the gold price.  Despite considerable outflows for the year, gold ETF holdings remain significantly above pre-pandemic levels, as they posted record inflows of approximately 875t (US$48bn) during 2020.

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COMEX net long positioning

Comparison of money manager net longs to other investor net longs in COMEX gold futures. These metrics are often used to understand the market sentiment and positioning of the gold market.