The gold price, rose to an 8% during the month!
Gold ETFs March remained 21% lower MoM In the March in review of Global physically backed gold ETFs for World Gold Council (WGC) said, Outflows from global gold ETFs continued in March, but at a much slower pace than previous months as North American and Asian inflows cushioned European losses. WGC witnessed their tenth consecutive monthly outflow in March, losing US$823mn. But by comparison this is far less than February outflows (-US$2.9bn) and the average of the past nine months (-US$2.4bn). Collective holdings fell by 14t to 3,112t by the end of March, the lowest since February 2020 and 21% lower than the month over month (MoM). The month-end record lower that of 3,915t in October 2020. However, helped by a jump in the gold price, total assets under management (AUM) rose to US$222bn, an 8% increase during the month, the highest in 21 months. All regions except Europe saw inflows in March. Flows in North America flipped back to positive for the first tim...