- North America: while SPDR® Gold MiniShares® (+US$740mn, +12t) led inflows during the first half, iShares Gold Trust Micro lost the most (-US$267mn, -4t)
- Europe: UK’s Gold Bullion Securities Ltd (-US$806mn, -13t) suffered the region’s biggest loss in H1 while Raiffeisen ETF - Solid Gold Reliable and Traceable +US$437mn, +7t) from Switzerland led inflows
- Asia: Japan Physical Gold ETF (US$133mn, +2t) led the region’s inflows in H1, while China’s Bosera Gold Exchange Trade Open-End Fund ETF saw the largest H1 outflows of US$79mn (1.3t)
- Other region: Istanbul Gold Exchange Traded Fund (+US$47.7mn, +0.8t) saw the largest inflow in H1 while Australia’s Global X Physical Gold lost US$81.5mn (1.5t).
- By the end of June collective holdings of global gold ETFs had fallen to their lowest since February, 10% lower y/y and 13% below October 2020’s record of 3,919t
- In terms of fund flows, global gold ETFs experienced the worst H1 since 2013 (-US$4.4bn)
- And European funds saw their second-largest H1 outflow in history, the largest outflow was recorded in 2013 (-US$8.2bn)
- Low-cost gold ETFs registered outflows of US$1.8bn (28t) in June. Y-t-d, net outflows into these funds now total US$352mn (8t), with European funds contributing the most.11