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Gold-backed ETF holdings decreased by 49

Gold-backed ETF holdings decreased by 49.3t in June – WGC

Sat July 07 2018


Holdings in global gold-backed exchange-traded funds (ETFs) decreased by 49.3 t to 2 434 t in June, the World Gold Council (WGC) reports.


It notes that outflows were dominated by North American funds, losing $1.9-billion as a result of dollar strength and a lower gold price. Funds listed in Asia and other regions lost $149-million and $89-million respectively.


European funds, however, saw marginal inflows in June, with gold holdings having increased by 0.5 t or $52-million.


The WGC further reports that, on a year-to-date basis, European funds have added 52.5 t or $2.5-billion.


Source: http://www.miningweekly.com/