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Showing posts with the label Gold-ETF Commentary

India led inflows by changes in the recent budget

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Western activity picked global backed gold ETFs up in July   Recently, World Gold Council (WGC) published the Gold ETF Commentary, Western activity picked up in July report. Further in their; July in review, the WGC suggest that global physically-backed gold ETFs have now seen inflows three months in a row, adding US$3.7bn in July.   Notably, all regions reported positive flows this month with Western gold ETFs contributing the most. A combination of the July inflow and a 4% rise in the gold price pushed total global assets under management (AUM) 6% higher to US$246bn, a new month-end record.3 Collective holdings concluded July with a 48t increase, reaching 3,154t. Successive inflows over recent months have narrowed the y-t-d loss in global gold ETFs to US$3bn. And while collective holdings have fallen by 72t (-2%) so far in 2024, their total AUM rose by 15%, supported by a 17% increase in the gold price.  European and North American funds remain on the red for the year despite