Global Gold ETF Inflows Buoyant in May
The funds in Asian region reported outflows of 3.3 tonnes.
SEATTLE (Scrap Monster): The World Gold Council (WGC) reported that global gold ETFs witnessed net inflows of 61.3 tonnes during the month of May this year. The assets under management (AUM) at the end of the month stood at 3,628 tonnes, which equates to almost $222 billion by value.
The North American funds posted inflow of 34.5 tonnes. The SPDR Gold Shares added 26.2 tonnes to its total holdings. The fund value recorded a surge by $1.6 billion. The fund to report second highest outflow was iShares Physical Gold Trust, which added 8.8 tonnes. This translates to a surge in fund value by $510 million. SPDR Gold MiniShares saw its holdings rise by 1.5 tonnes. Also, holdings in Aberdeen Physical Gold Shares witnessed marginal up move by 0.4 tonnes.
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The addition of 31.2 tonnes in European funds was mainly led by three UK-listed funds. Invesco Physical Gold holdings added 6.4 tonnes. Also, iShares Physical Gold ETC witnessed addition of 8.8 tonnes.
The funds in Asian region reported outflows of 3.3 tonnes. All major funds saw dip in their gold holdings. For instance, Huaan Yifu witnessed outflows of 1.2 tonnes, whereas Bosera Gold reported decline by 1.7 tonnes.
Other regions reported outflows of 1.0t. The South African funds lost nearly half of its assets during the month.
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