Gold-Backed ETFs Posted Net Inflows in January

The European funds reported net inflows of 6.7t, on the back of reports suggesting elevated levels of inflation during the month.

SEATTLE (Scrap Monster): The ETF Monthly Commentary released by the World Gold Council (WGC) indicates that global gold ETFs drew net inflows during the opening month of the current year, mainly driven by North American funds. The monthly net inflows totalled 46.3t in January 2022.

The net inflows were primarily driven by strength in gold prices and a sharp selloff witnessed in equity markets across the globe. However, the flows weakened following reversal in prices of the yellow metal towards the end of the month, subsequent to a hawkish U.S. Fed statement.

The U.S. funds mainly accounted for the North American inflows of 49.0t, which amounted to $2.9 billion. The majority of U.S. inflows coincided with the 3% rally in gold prices during the initial part of January. The region’s funds continued to be more reactive to changes in gold prices, compared to other regions.

The European funds reported net inflows of 6.7t, on the back of reports suggesting elevated levels of inflation during the month.

The North American and European inflows outweighed outflows from Asia, which totalled 9.9t during the month. Outflows in Asia were mainly driven by China and India.

Meantime, Other regions attracted inflows of 0.5t during the month, WGC report noted.

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