Gold ETF Outflows Driven by Large-Cap U.S. ETF Funds

SEATTLE (Scrap Monster):  The report published by the World Gold Council (WGC) noted that gold outflows of near equal magnitude from Europe and North America were marginally offset by inflows in Asia.

The North American and European funds together contributed to outflows in October. The North American funds recorded an outflow of 14.70 tonnes, whereas the cumulative outflows from the UK and France totalled 12 tonnes. The funds listed in Asia witnessed net inflows of 1.3 tonne, mainly led by China. Also, Other regions saw marginal inflow of 0.2 tonnes, said the WGC report.

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Among North American funds, SPDR Gold Shares lost 7.9 tonnes, whereas low-cost SPDR Gold MiniShares Trust recorded outflows of 4.1 tonnes. On the other hand, recently launched iShares Gold Trust Micro added 3.1 tonnes.

The fund outflow in the European region was led by WisdomTree Physical Gold, which recorded outflows of 4.0 tonnes. In second place was iShares Physical Gold, which reported outflows of 3.7 tonnes. On the other hand, Xtrackers IE Physical Gold extended growth with total inflows of 2.0 toones.

The Asian inflows were led by Bosera Gold Exchange in China, which recorded gains of 0.8 tonnes, followed by E Fund Gold whic added 0.6 tonnes during October this year.

Year-to-date, global gold ETFs witnessed outflows of 181 tonnes.