WGC Q1 Demand Trends: Gold-backed ETF Inflows Soared

SEATTLE (Scrap Monster):  The World Gold Council (WGC) published Q1 2020 Demand Trends Report, outlining gold trends during the period.

As per the report, the holdings in gold-backed ETFs touched a record high of 3,185t by the end of Q1 2020. The quarterly inflows of 298t into physically-backed gold ETFs and similar products was the highest in four years. The assets under management (AUM) in these products surged higher by $2.3 billion over the quarter. The inflows registered notable momentum throughout the quarter. The European funds witnessed the largest absolute inflows during the quarter.

The total gold coin and bar demand witnessed 6% decline over the previous year to total 241.6t. The demand for gold coins surged higher in Western countries, whereas the coin demand in Asian countries recorded decline. The investment in gold bar totalled 150.4t, significantly lower by 6% compared with the previous year. The bar and coin investment in India and China fell by 17% and 48% respectively.

On the contrary, the bar and coin investment in the U.S. doubled over the previous year to hit 14.9t- the highest level in three years. The European demand too was up sharply by 53% to 65.1t during the quarter. Also, Turkish demand for gold bars and coins soared by 27% to 21.2t in Q1 2020.

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