Inflows to Gold ETFs Hit Fresh Peak in H1 2020

The gold-backed ETFs recorded positive flows in the month of June this year, adding 104t, equivalent to $5.6 billion.

SEATTLE (Scrap Monster):  The monthly data published by the World Gold Council (WGC) indicates that gold-backed ETFs posted record global net inflows during the initial half of 2020.

The global net inflows totalled 734t, equivalent to $39.5 billion by value, during H1 2020. The global gold ETF holdings, in tonnage terms, have increased by 25%. The year-to-date ETF inflows over the first six months of 2020 have already surpassed the largest annual inflows of 646t recorded in 2009.

ALSO READ: DGCX Partnership Offers Pricing Data for Gold-backed ETF

The gold-backed ETFs recorded positive flows in the month of June this year, adding 104t, equivalent to $5.6 billion. This is the seventh consecutive month of positive inflows, WGC noted. It gained momentum after registering three consecutive days of outflows during the beginning of June this year. All regions reported net inflows during the month, with North American funds reporting the highest inflows.

The North American funds added 83t, accounting for nearly 80% of global net inflows. The SPDR Gold Shares added 56t, whereas the iShares Gold Trust added 14t. The European-listed funds added 18t, whereas Asian-listed fund holdings registered fractional rise by 0.4t. The Other regions registered 3t increase.

The Council noted that economic and geopolitical environment will lend further support to gold investment.

• Revalyu Resources Expands PET Recycling Operations in Nashik
• Topsham Scrap Metal Company Fined $42,000 After Alleged Clean Air Act Violation
• Alaska’s Top Court Reviews Permits for Donlin Gold Mine
• Michigan EGLE Awards $1 Million in Brownfield Funding for Redevelopment of Two Landfills