WGC: Gold ETF Outflows Led by North American and European Funds
The fund holdings in European region had outflows of 11.5 tonnes.
SEATTLE (Scrap Monster): The report published by the World Gold Council (WGC) noted that gold ETF outflows from European and North American funds outweighed inflows into Asian funds during the month of September this year.
The North American funds recorded net outflow of 6.60 tonnes. The SPDR Gold Shares in the U.S. drove global outflows during September, which were partially balanced by inflows into iShares Gold Trust, iShares Gold Trust Micro and Goldman Sachs Physical Gold. The SPDR Gold Shares lost 10.20 tonnes, while iShares Gold Trust witnessed inflows of 2.5 tonnes. Meantime, iShares Gold Trust Micro added 0.6 tonnes, while Goldman Sachs Physical Gold recorded inflows of 0.5 tonnes, which helped to marginally offset some of the outflows.
The fund holdings in European region had outflows of 11.5 tonnes. The largest outflow was seen in iShares Physical Gold, which lost 6.2 tonnes, followed by Invesco Physical Gold which recorded a loss of 1.5 tonnes in holdings. Xtrackers IE Physical Gold had inflows of 1.7 tonnes, while Xetra Gold added 0.8 tonnes.
The funds listed in Asia reported net inflows of 2.4 tonnes. The inflows into Chinese fund Huaan Yifu Gold ETF totalled 1.1 tonnes, whereas Nippon India Gold in India added 0.5 tonnes. Meantime, the Other regions reported net inflow of 0.4 tonnes during the month, WGC reported.
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