Gold ETF Outflows Moderated in November: World Gold Council

SEATTLE (Scrap Monster): The latest report published by the World Gold Council (WGC) indicates that global gold ETFs recorded seventh straight month of net outflows during November this year, but the outflows witnessed a modest slowdown. The outflows totalled 34 tonnes in November, as compared with 59 tonnes in the prior month. The year-to-date net outflows totalled 83 tonnes.

All regions registered outflows during the month. The largest outflows were reported from North American and Asian listed funds. The total assets under management (AUM) stood at 3,477 tonnes as at the end of November 2022.

The North American funds registered outflows of 21 tonnes, while the European funds reduced by 11 tonnes. The top U.S. funds registered the biggest losses. The decline in Europe was led by funds in the UK and Germany, which recorded net outflows by 6 tonnes and 5 tonnes respectively. The net outflows in Asia were 2 tonnes, primarily from Chinese funds. The Japanese funds witnessed inflows of 0.9 tonnes. Meantime, the funds in other regions recorded minor outflow of 0.7 tonnes in November.

The individual funds to see largest outflows include SPDR Gold Trust and iShares Gold Trust in the U.S., Xetra Gold in Germany and Invesco Physical Gold ETC in the UK.

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