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WGC: ETF Gold Holdings Rise 22

WGC: ETF Gold Holdings Rise 22.4 Tonnes In September

Wednesday October 04, 2017


Global holdings of gold by exchange-traded funds increased by 22.4 tonnes in September to 2,357, the World Gold Council reported Wednesday.For the year to date, ETFs collectively have added 191.9 tonnes, the gold-industry organization said in a monthly report.Most gold ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares, thereby creating actual physical demand.


North American ETFs led inflows in September for the second month in a row, as investors added 36 tonnes, the Gold Council said. However, there were outflows from European ETFs of 12 tonnes, while Asia-based ETFs lost 1.7 tonnes.In North America, the SPDR Gold Shares ETF led inflows with 28 tonnes, followed by iShares Gold Trust with 8.5 tonnes. Other North American funds experienced minimal flows, the WGC said.


European outflows were driven by db Physical Euro Hedged ETC, in Germany, which lost 8.8 tonnes as the euro weakened by 80 basis points against the U.S. dollar over the month, the WGC said. Gold Bullion Securities, listed in London, lost 8 tonnes. Meanwhile, iShares Physical Gold, listed in London, gained 8.2 tonnes.Global assets under management in gold ETFs rose by $2.2 billion in September to $97.8 billion, the WGC said. This represents an increase of 7.7% from the end of 2016.


Source: http://www.kitco.com/ne