Gold ETFs Recorded Positive Flows in July

SEATTLE (Scrap Monster): The World Gold Council (WGC) has published a new report detailing the flows into global gold-backed ETFs during the month of July this year. The gold ETFs recorded eighth straight month of positive flows, adding 166 tonnes in July this year. The global holdings touched a new peak of 3,785 tonnes. The global net inflows totalled 899 tonnes during the initial seven-month period of the year.

According to WGC, all regions across the world reported net inflows in July this year. However, North American funds led the rally, accounting for nearly 75% of the global net inflows. The funds in the region added 118 tonnes. The European-listed funds added 40 tonnes, whereas the funds listed in the Asian region saw an addition of 4.9 tonnes. Also, other regions added 3.4 tonnes to their total gold-EFT holdings during the month.

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The global inflows in the North American region were led by SPDR Gold Shares, which added 63 tonnes. Meantime, iShares Gold Trust added 35.5 tonnes. The other two funds to witness significant inflows were the SPDR Gold MiniShares and Aberdeen Standard Physical Gold Shares, which added 6.9 tonnes and 2.6 tonnes respectively.

In Europe, Invesco Physical Gold Etc added 11.8 tonnes and iShares Physical Gold added 9.4 tonnes.

The North American and European funds accounted for 52% and 43% of global gold ETF holdings respectively.