European Funds Raked In Major Share of Gold ETF Inflows

SEATTLE (Scrap Monster): The gold ETF inflows totalled nearly 14 tonnes in the opening month of 2021. The European funds accounted for the major share of inflows during the month. The robust inflows suggest strong investor support for gold, said the latest report published by the World Gold Council (WGC).

The holdings in European funds recorded inflows of 17.5 tonnes. The assets under management (AUM) in the region’s gold ETFs surged by 1.2%, with Invesco Physical Gold (UK) leading the inflows with addition of 6.9 tonnes. The other funds in the European region to report inflows were Amundi Physical Gold (4.6 tonnes) and iShares Physical Gold (3.4 tonnes). However, Gold Bullion Securities and WisdomTree Physical Gold registered notable dips in AUM during the month.

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The North American funds witnessed outflows of 6.3 tonnes. The SPDR Gold Shares shed 10.6 tonnes. On the contrary, SPDR Gold MiniShares and iShares Gold Trust added 3.1 tonnes and 1.7 tonnes respectively.

The holdings in funds listed in Asian region remained essentially flat during the month. The funds flows to Chinese funds such as Huaan Yifu Gold, E Fund Gold Tradable Open-end Securities Investment Fund and Bosera Gold posted declines. Incidentally, Asian gold ETF holdings have surged higher by over 50% in the past one year, WGC noted.