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Global ETF Gold Holdings Increase Modestly In March

Global ETF Gold Holdings Increase Modestly In March

April 04, 2019

 

 

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Holdings of gold by global exchange-traded funds were nearly flat in March, rising by just 3.3 tonnes, the World Gold Council reported Thursday.As of the end of the month, holdings stood at 2,482.8 tonnes. The WGC said the rise over the first quarter of the year was around 42 tonnes.Most ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares. This gives investors exposure to gold prices without undertaking certain expenses such as storage and assaying of physical metal.

 

Global assets under management in these accounts fell by 1.6% in March to $103 billion, driven by a 2% decline in the price of gold, the World Gold Council said.North American ETFs collectively posted inflows of 2.5 tonnes, while those in both Europe and Asia inches up by 0.3 tonne, the WGC said. The uptick in all other regions amounted to 0.2 tonne.Among individual ETFs, iShares Gold Trust added 2 tonnes. The next biggest increase in North America was SPDR Gold MiniShares, up half a tonne. European inflows were led by Xtrackers Physical GBP Hedged and Xetra, each adding 1.5 tonne.

 

Source: https://www.kitco.com/