ETFs
Global gold ETFs saw first inflows in a year in May, WGC says
Gold ETFs, which store bullion for investors and are a major category of investment demand for the precious metal, saw an inflow of 8.2 tonnes, or $529 million, in May, said the WGC, an industry body whose members are global gold mining companies. in a research note.
Rising gold prices and capital inflows pushed total assets under management up 2% to $234 billion, the highest since April 2022, the report added.
Their collective reserves rebounded to 3,088 tonnes in May, but remain 8.2% below the 2023 average.
Gold ETFs have seen three consecutive years of outflows, with a decline of 244.4 tonnes in 2023 amid high global interest rates.
(By Polina Devitt; editing by Sriraj Kalluvila)
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