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North American Gold ETFs drive global inflows in August

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NEW YORK (Scrap Register): Global gold-backed ETFs collectively hold 2,295 tonnes and added 143.5 tonnes, equivalent to $5.3bn so far in 2017. This represents an increase of 5.5% of global AUM, according to the World Gold Council.

North America led inflows in August, as investors added 27.8 tonnes (+$1.3bn, +2.6% AUM) of gold through funds listed in the region.

In North America, SPDR Gold Shares led inflows with +22.4 tonnes ($1.03, 3.2% of AUM), followed by iShares Gold Trust with +4.6 tonnes ($266mn, 3.1% of AUM).

Flows in Europe were mixed with a net increase of 6.4t (+$322mn, +0.78% AUM) over the month.

European inflows were driven by Source Physical Gold +6 tonnes ($245mn, 5.5% of AUM) and ETFs Physical Gold +2.1 tonnes ($109mn, 1.87% of AUM).

European funds continue to lead inflows accounting for nearly 79% of all inflows during the year. European funds have increased their AUM by 12% on the year, while Asian funds have lost 16% of their assets.

Asia funds lost 2.4t (-$80mn, -3.0% AUM), with most of the gold-backed funds losing assets while derivatives demand increased through gold futures markets in the region. ETFs in other regions experienced minimal inflows.

The combined liquidity of gold ETFs rose month-over- month to $1.23bn/day, near its annual average of $1.22bn/day.

 

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