Risks channel August inflows West! -WGC
The gold price pushed global gold ETFs’ total AUM Recently, World Gold Council [WGC] released their Gold ETF Commentary and said about, Risks channel August inflows West! Global physically backed gold ETFs attracted US$5.5bn in August, extending their inflow streak to three months. Similar to July, North American and European funds led global inflows while Asia and other regions saw mild outflows. Nevertheless, the y-t-d inflow of US$47bn reached the second strongest on record after the peak of 2020. August inflows and a further rise in the gold price pushed global gold ETFs’ total assets under management (AUM) 5% higher to US$407bn, setting a new month-end record. Holdings continued to increase, rising 53t to 3,692t, the highest month-end value since July 2022 and 6% below the record of 3,929t, which was reached the first week of November 2020. Asian flows flipped negative in August, losing US$495mn. China lost the most: continued equity strengt...