WGC: Gold ETFs Posted Robust Net Inflows in February

The U.S. led the strong inflows into North American funds.

SEATTLE (Scrap Monster): The latest data published by the World Gold Council (WGC) says that inflows into global gold ETFs continued in the month of February this year, amidst high inflation and mounting geopolitical risks. The net inflows totalled 35.3 tonnes during the month. The gold-backed ETFs had posted inflows in January as well.

According to WGC, the positive flows into North American and European funds considerably outweighed outflows from Asian funds. The inflows were mainly driven by high inflation rates and a surge in geopolitical risk, following the Russian invasion of Ukraine.

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The U.S. led the strong inflows into North American funds. The larger U.S. funds remained the key driver behind the regional inflows of 21.5t. The trend is seen continuing in March as well, with to-date inflows to U.S. funds approaching almost $2 billion. Meantime, the European funds added 21.4t.

On the contrary, Asian funds lost 7.4t in February. The Chinese ETFs accounted for bulk of these outflows, on account of increased selling driven by surge in gold prices during the month. Also, profit-taking contributed to additional outflows in India. The flows into other regions remained more or less flat in February 2022.

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