Featured Report
Gold ETFs had net outflows of US$9bn in 2021 led by North American funds
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.
Investment Update: Increased appetite for less liquid investments strengthens the case for gold
The shift to risker and less liquid assets strengthens the case for an allocation to gold, given its unique combination as a highly liquid, low-volatility asset.
Gold Market Commentary
Gold rose 2% in November based on the LBMA reference price, rallying early in the month before giving up most of those gains in the following weeks.
Outflows from Gold ETFs Accelerate in October Led by North America and Europe
Gold-backed ETFs (gold ETFs) experienced net outflows of 25.5 tonnes (t) (-US$1.4bn, -0.7% AUM) in October. Outflows of near equal magnitude from Europe and North America were marginally offset by inflows in Asia.
Gold Market Commentary
Gold fell in September by 4% to around US$1,743/oz. This was the second consecutive month of declines, with gold now over 8% lower y-t-d. Gold wasn’t alone. Treasuries, Corporates, US- and non-US equities all fell in September possibly as a result of deleveraging. The Q2 level of margin debt for equities was at a record high. It would be understandable if some leverage has been removed as we head into the historically volatile month of October. And it’s quite possible that this de-leveraging has affected most assets (energy and industrial metals excepted).
Evaluating Qaurum: why simple isn't always best
A better gold valuation tool for investors
We launched QaurumSM almost two years ago in response to a vocal need for more robust and accessible gold valuation analytics. While these exist in abundance for other asset classes, gold investors have historically had to settle for something more cursory or incomplete.
Investment Update - ECB policy may shift but its long-term effects keep gold relevant
Higher inflation across Europe in recent months has raised questions over when the European Central Bank (ECB) may begin to tighten monetary policy.
Gold: the most effective commodity investment - 2021 Edition
The current global economic landscape indicates improving economic conditions, higher inflation and rates expectations, as well as commodity supply shortages which are likely to support commodity performance.
Gold Market Commentary
Equity yields support gold as investors position for historical September strength
Gold mid-year outlook 2021
Interest rates will likely remain key drivers of financial assets. Gold is no exception. Yet, the negative impact of higher rates will likely be offset by the longer lasting effects and unintended consequences of expansionary monetary and fiscal policies created to support the global economy.
