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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...

                                          Gold ETF outflows continue, but                                            Slow with gold price strength   Recently the World Gold Council ( WGC) published its report on, Global gold-backed ETF flows April 2021 & said about the April highlights that, global gold ETFs lost 18.3t tonnes (t) (-US$1.1bn, -0.6% AUM) in April, marking outflows for five of the past six months.   However, global outflows slowed significantly, as European funds added assets for the first time since January. Global assets under management (AUM) stand at 3,567t (US$203.0bn), after slipping below $200bn for the first time in over a year during March. Since the peak asset levels in November 2020, gold ETF AUM has fallen nearly 14%, with 8% coming...

  Gold and Silver Sentiment to Rise Sharply  ABC Bullion Market Update views a gold and silver sentiment to rise sharply in the coming months! In the Precious Metals Commentary, the bullion said, gold continues its strong recovery, but hit the resistance discussed in last week’s commentary (…Resistance in gold should come in at US$1888-1910…) with gold making a high so far at US$1896. There is distinct resistance at the US$1908 level. The Dollar Index is a big factor behind gold’s move as correlations between gold and Treasury-Inflation Linked bond yields (TIPS) weaken relative to early 2020. The DXY’s move to 89.73 takes it very close to the 50% retracement of the move from the 2011 lows to the 2017 high at 88.20, and along with medium-term target to 89.90 and 89.60 level, there is the suggestion that the recent move downwards in the Dollar index may pause soon.  There are signs that non-commercials longs are tentatively trying to increase their exposure to the DXY from ...

FY2018 gold sales of 227772 ounces Asanko Gold reports fourth quarter and full year, FY 2018 operating and financial results and provides 2019 guidance for the Asanko Gold Mine (AGM), located in Ghana, West Africa. Asanko Gold Mine of 100% basis registers gold production of 223,152 ounces at AISC1 $1,072/oz, exceeding 2018 production guidance and within the lower end of cost guidance in 2018. FY2018 gold sales of 227,772 ounces at an average realized price of $1,247/oz, generating gold revenue of $283.9 million, including by-product sales and after capitalization of gold sales related to pre-production activities at Esaase. For FY2018, the JV generated operating cash flows of $72.5 million and $100.5 million in operating cash flows before working capital changes. Q4 2018 gold production of 59,823 ounces at AISC1 of $1,072/oz and Q4 2018 gold sales of 61,821 ounces at an average realized price of $1,215/oz, generating gold revenue of $74.2 million, including by-produc...