Gold ETF holdings dropped by 2.9% in November!
Gold price moves worst monthly m ove & dipped 7.4% in November Highlights Focus: 1: Gold ETFs have added nearly 50% more Assets in 2020 (913t) than the 2009 record of 646t 2: SPDR Gold Shares led global outflows Losing US$3.7bn or nearly 5% of its assets 3: Strong outflows across all regions World Gold Council (WGC) published gold-backed ETFs and similar products report for the month of November 2020. In November, gold-backed ETFs and similar products (gold ETFs) recorded their first net outflows in twelve months and second largest monthly outflows ever. Gold ETF holdings decreased by 107 tonnes (t) during the month – US$6.8bn or 2.9% of assets under management (AUM) – as the gold price had its worst monthly move (-6.3%, US$1,763/oz) since November 2016, when it dipped 7.4%. Despite lacklustre performance this month, net inflows of 916t (US$50.3bn) in 2020 remain well above the highest yearly amount on record, although below the record set last ...