Research library

Displaying 1 - 10 of 173

Published:

Gold ETF flows slow in June but finish positive in Q2

Flows into global gold ETFs were mostly flat in June, with slight inflows of 2.9 tonnes (t) (US$191mn, +0.1% AUM). Inflows into North American and Asian funds were primarily offset by outflows from European funds. Overall, the positive flows came in spite of significant gold price weakness in the latter half of the month on the heels of a relatively hawkish Federal Reserve (Fed) outlook, suggesting that investors may have taken advantage of the lower price level to gain long gold exposure. Global Assets Under Management (AUM) stands at 3,624t (US$206bn), approximately 7% shy of the October 2020 record tonnage high of 3,909t.

Sectors: Demand, Investment

Published:

Gold ETF inflows catch up to gold price strength

Global gold ETFs added 61.3t tonnes (t) (US$3.4bn, 1.7% AUM) in May, reversing three straight months of net outflows. We believe this to be largely a function of investment demand increasing with the price strength of gold, along with renewed inflation concerns in the market, a weaker dollar and lower real yields. Global assets under management (AUM) stand at 3,628t (US$222bn). AUM is now only 9% shy of the August 2020 high of US$240bn and 7% shy of the October 2020 tonnage high of 3,908t.

Sectors: Demand, Investment

Published:

Gold ETF outflows continue, but slow with gold price strength

Global gold ETFs lost 18.3t tonnes (t) (-US$1.1bn, -0.5% AUM) in April, marking outflows for five of the past six months. However, global outflows slowed significantly, as European funds added assets for the first time since January. Global assets under management (AUM) stand at 3,567t (US$203.0bn), after slipping below $200bn for the first time in over a year during March. Since the peak asset levels in November 2020, gold ETF AUM has fallen nearly 14%, with 8% coming from outflows and 6% coming from the gold price selloff in US dollar terms.

Sectors: Demand, Investment

Published:

North American gold ETF funds drove 86% of Q1 net outflows

Global gold ETFs lost 107.5t tonnes (t) (-US$5.9bn, -2.9% AUM) in March, marking outflows for the fourth month out of five and the second month in a row with net outflows cracking the top 10 worst historically. Global assets under management (AUM) stand at 3,574t (US$194.5bn), back to levels last seen in mid to late Q2 2020. Since the peak asset levels in November 2020, gold ETF holdings have fallen nearly 10% in tonnage terms, on par with the approximate loss in the price of gold over the same period.

Sectors: Demand, Investment