WGC: Global Gold ETFs Saw Inflows of $4.3 Billion in October

SEATTLE (Scrap Monster): The globally traded gold exchange-traded funds (ETFs) reported inflows for the sixth consecutive month in October 2024, said the most recent World Gold Council (WGC) report.

In October of this year, the global gold ETFs saw an increase of $4.3 billion. Global assets under management (AUM) increased by 5% during the month to $286 billion, a new record, aided by strong inflows and record-high gold prices. The collective holdings surged higher by 43 tonnes to hit 3,244 tonnes.

The WGC study states that North American funds, which contributed $2.7 billion in October of this year, led the worldwide inflows. In October, Asian funds—which are primarily Chinese funds—attracted $2.1 billion, marking 20 consecutive months of inflows. The funds elsewhere too reported fifth successive month of inflows. On the other hand, European funds lost $563 million as a result of ongoing withdrawals throughout the month.

For the first time this year, the demand for gold ETFs worldwide has turned positive, with Asia leading the way. Global gold ETF inflows have totaled US$4.7 billion so far this year. Over the course of the year, the total AUM has increased by over a third.

Also, all regions, except Europe, reported inflows till date this year, WGC report said.

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