December outflow compounds 2023 losses
Global physically backed gold ETFs continued to see outflows (-US$1bn, -10t) in December as European losses overshadowed inflows elsewhere. At the end of 2023, their collective holdings stood at 3,225t, a 244t decline during the year. But total assets under management of global gold ETFs rose 6% to US$214bn thanks to a 15% gold price increase in 2023.
India's Gold Market: Reform and growth
This compendium brings together a series of reports published over the last three years, giving unparalleled insight into the key factors that underpin India’s gold market, including the drivers of gold demand, the changing structure of the jewellery market, the new investment landscape, and the dynamics of gold supply.
Outflows narrowed significantly in November
Global gold ETFs saw a net outflow of US$920mn in November, significantly narrower than October (-US$2bn). North America led global inflows while Europe continued to witness sizable outflows in the month.
Gold ETF commentary: Net outflows narrowed in October
Outflows from physically-backed gold ETFs totalled US$2bn in October, the fifth consecutive monthly loss. Collective holdings reduced by 37t to 3,245t.
Gold Demand Trends Q3 2023
Central banks gold buying maintained a historic pace but fell short of the Q3’22 record. Jewellery demand softened slightly in the face of high gold prices, while the investment picture was mixed.
Outflows accelerated in September
Physically-backed gold ETFs saw another monthly outflow, losing US$3bn, equivalent to a 59t reduction in holdings by the end of September. Total AUM settled at US$198bn, further impacted by a nearly 4% reduction in the gold price, while collective holdings dropped 2% to 3,282t.
2023 Chinese jewellery market insights: Gold continues to lead the market
As Chinese jewellery retailers shook off the pandemic, many strode into 2023 with strong expectations. But the recovery has been bumpy. In the face of economic uncertainties and the record-level renminbi (RMB) gold price, understanding current trends and future possibilities is fundamental to jewellers’ businesses.
Outflows continued in August
Physically-backed gold ETFs saw net outflows of US$2.3bn in July, equivalent to a 34t reduction in holdings. Despite this, total assets under management (AUM) increased by 2% m/m to US$215bn as a rebound in gold price more than offset negative flows.
