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.
Scrap Metal Prices
Copper Scrap | ||
Alternator | 0.38 | $US/Lb |
#1 Copper Bare Bright | 4.36 | $US/Lb |
Aluminum Scrap | ||
356 Aluminum Wheels (Clean) | 0.78 | $US/Lb |
6061 Extrusions | 0.68 | $US/Lb |
Steel Scrap | ||
#1 Bundle | 370.00 | $US/MT |
#1 Busheling | 390.00 | $US/MT |
Electronics Scrap |