ETFs
Global gold ETFs recorded second month of inflows in June, WGC says
However, gold ETFs have seen three consecutive years of outflows amid high global interest rates, and the last two months of inflows have only slightly limited losses in the first half of 2024, the WGC said.
Gold ETFs saw an inflow of 17.5 metric tonnes, or $1.4 billion, in June, the WGC, an industry body whose members are global gold miners, said in a research note.
A higher gold price and recent capital inflows pushed total assets under management to $233.3 billion, but their collective holdings of 3,105.5 tonnes remain near their lowest level since 2020.
For the period January-June 2024, capital outflows totaled $6.7 billion, or 120 tonnes, the largest loss since the first half of 2013, with outflows mainly concentrated in Europe and North America, the WGC said. Asia was the only region to record capital inflows so far this year.
(By Polina Devitt; edited by David Evans)