WGC: Gold ETF Outflows Dipped in October

The year-to-date global outflows totalled 225 tonnes, valued at approximately $13 billion.

SEATTLE (Scrap Monster): The global gold exchange traded funds (ETFs) continued to witness outflows in October this year, but at a slower pace when compared with the prior month, said the latest monthly gold EFT commentary released by the World Gold Council (WGC).

According to the report, the outflows from physically-backed gold ETFs totalled $2 billion in October this year. This is the fifth straight month of outflows. The collective holdings in gold ETFs recorded a dip by 37 tonnes to 3,245 tonnes. However, the 7% surge in gold prices during the month resulted in the total assets under management (AUM) increase by almost 6%, WGC noted.

The year-to-date global outflows totalled 225 tonnes, valued at approximately $13 billion. The outflows were mainly from funds in European and North American regions. The North American funds lost 28 tonnes ($2 billion), registering the fifth consecutive month of outflows. The European funds lost 11 tonnes ($622 million) in October this year. Meantime, the Asian region registered nominal inflows of 1 tonne during the month.

Among individual funds, ZKB Gold ETF, Invesco Physical Gold GBP Hedged ETC and Japan Physical Gold ETF recorded largest fund inflows.

• Sims Lifecycle Services Listed as a Representative Vendor in the 2024 Gartner “Market Guide for IT Asset Disposition”
• EMR Hails Step Forward in Innovative Metals-Recycling Project
• November 21, 2024: Scrap Gold Prices Up, Platinum Steady, Silver Down on the Index
• Study Reveals Plan to Boost U.S. Jobs, Reduce Waste and Cut Emissions for 30% of U.S. Plastic Packaging and Textiles