Global gold ETFs registered healthy net inflows of 43t (US$3bn) in April. While this is 77% lower than the previous month, which was the strongest since February 2016, it is the fourth consecutive month of inflows, maintaining the momentum of flight-to-quality flows we have witnessed this year.
Global gold ETFs ended their four-month run of positive inflows in May, with outflows of 53t (US$3.1bn). While this was the largest monthly outflow since March 2021, total holdings remain 8% higher year-to-date at 3,823t (US$226bn).
Global gold ETFs registered 28t (US$1.7bn) of outflows in June. This was the second consecutive month of outflows, following the 53t (US$3.1bn) that left these funds in May. While the recent flows were enough to push Q2 into net outflows of 39t (US$2bn), year-to-date net inflows remained positive at 234t (US$14.8bn). Total holdings at the end of June stood at 3,792t (US$221.7bn), up 6% y-t-d.
Global gold ETFs registered outflows of 81t (-US$4.5bn) in July. This was the third consecutive month of outflows and the worst since March 2021. A stronger US dollar and COMEX net long positioning – the lowest since April 2019 – helped push the gold price down through the US$1,800/oz support level.
Global gold ETFs registered outflows of 51t (US$2.9bn, 1.4%) in August, in line with price performance. This was the fourth consecutive month of outflows. Funds have now given back two-thirds of the inflows accumulated through April; y-t-d global inflows are 102t (US$7.5bn), with total holdings at 3,651t (US$202bn), up 3.6% on the year.