Gold ETF Inflows Hit Fresh Record in 2020

SEATTLE (Scrap Monster): The recent report published by the World Gold Council (WGC) denotes that gold-backed ETFs and similar products recorded their tenth straight month of net inflows during the month of September this year. The gold ETF holdings surged higher by 68.1 tonnes during the month. The global inflows totalled 1,003 tonnes till date this year.

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The global inflows in September were led by North American funds, which saw addition of 34.6 tonnes. European funds added 26 tonnes during the month, after recording outflows during the prior month. The Asian funds reported addition of 6.8 tonnes, driven by boost in safe-haven demand and strong year-to-date returns in domestic gold prices, especially in India. Meantime, the funds listed in other regions witnessed marginal inflows of 0.6 tonnes, WGC report noted.

The SPDR Gold Shares in North America led global inflows, adding 17.4 tonnes. In second place was iShares Gold Trust, which added 12.8 tonnes. In Europe, iShares Physical Gold added 15.7t, followed by Invesco Physical Gold ETC, which added 12.3t. China saw listing of two new funds during September.

The Council report suggests strong inflows during the third quarter. The gold ETF holdings increased 7% during the quarter, adding 273 tonnes. The primary recipient of the inflows was North American funds.