Gold ETFs Posted Net Outflows in September

The Asian-listed funds ended the September quarter with inflows of 2.4 tonnes.

SEATTLE (Scrap Monster): The global gold-backed ETFs continued to record net outflows during the month of September this year. The outflows totalled 15.2 tonnes and were valued at $830 million during the month. The global assets under management (AUM) stood at 3,592 tonnes and were valued at $201 billion, said the World Gold Council (WGC).

The outflows in Europe and North America were partially offset by inflows in Asia. The primary driver of outflows in September was European gold ETFs, followed by North American funds. The collective outflows from within Europe amounted to 11.5 tonnes, led by larger funds in the UK and Germany. The cumulative outflows from North American funds stood at 6.6 tonnes, mainly attributed to losses from large U.S. funds.

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The Asian-listed funds ended the September quarter with inflows of 2.4 tonnes. The inflows were triggered by weakness in Chinese equities in late-September, fuelled by the Evergrande liquidity crisis. The Indian gold ETFs hit the highest level in almost eight years. The Other Region countries too contributed to the global gold ETFs with inflows of 0.4 tonnes.

The North American funds lost 46.3 tonnes in Q3 2021. The European funds witnessed net inflows amounting to $909 million, while the inflows to Asian funds were valued at $228 million.

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