Gold ETFs Recorded Outflows in Q3: WGC Demand Trends Report

SEATTLE (Scrap Monster): The Gold Demand Trends Q3 2021 Report published by the World Gold Council (WGC) indicates that global gold-backed exchange-traded funds (ETFs) reported net outflows during the third quarter of the current year, primarily driven by North American funds. Meantime, funds listed in other regions witnessed surge in holdings during the quarter.

The global gold ETFs recorded net outflows of 27 tonnes during the quarter. The year-to-date outflows totalled 156 tonnes- the largest in record since 2013. The global holdings at the end of the month declined to under 3,600 tonnes.

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The North American funds lost 46.3 tonnes during the quarter. The larger, more liquid ETFs witnessed strong outflows. However, the low-cost gold ETFs in the U.S. reported net inflows of 14.2 tonnes.

Meantime, the holdings in European exchange traded products surged higher by 15 tonnes. German funds accounted for more than 50% of all inflows recorded by the European region, WGC report said.

The Asian-listed funds saw its holdings grow by 4 tonnes. Much of the region’s growth came from China, which added 3 tonnes to make its total holdings to 72 tonnes. The funds in other regions saw minor inflows of 0.2 tonnes the third quarter.