ETFs increase by 143.5t gold

THE WORLD Gold Council has said that gold-backed exchange trade funds have, over the year to date, increased by 31.4 tonnes in August to 2295t in global holdings.

  • Staff Reporter
  • 07 September 2017
  • 14:57
  • News
ETFs increase by 143.5t gold

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North American ETFs drove global inflows in August as investors added 27.8t ($1.3 billion, 2.6% AUM) the WGC said in its latest report this week.
Flows in Europe were mixed with a net increase of 6.4t ($321mn, 0.78% AUM), Asia funds lost 2t ($80mn, 3.0% AUM), with many of the Chinese gold-backed funds losing assets
Over the year to date, global gold-backed ETFs collectively hold 2295t and added 143.5t, equivalent to $5.3 billion so far in 2017. This represents an increase of 5.5% of global AUM.
European funds continue to lead inflows accounting for nearly 79% of all inflows during the year.
European funds have increased their AUM by 12% on the year, while Asian funds have lost 16% of their assets.  
In other commodities, base metals had a good week, hitting new high points.
Nickel was the biggest mover, up by 1.8% to $12,193.50 per tonne, about a 26-month high.
Copper added 1.2% to $6886.75/t, its highest price since October 2014 and zinc was up by around 0.6% to a new10-year high of $3205.25/t.
Tin was also higher, while lead and aluminium fell.
The WTI crude oil price was slightly down overnight at $48.93 per barrel.
In softer commodities, cocoa traded at $1940 per tonne on Wednesday, reported. Historically, cocoa reached an all-time high of $4361.58/t in July of 1977 and a record low of $211/t in July of 1965.
Coffee increased 1c per pound or 0.79% to 127.50c/lb on Wednesday from 126.50c/lb in the previous trading session, reported. Historically, coffee reached an all-time high of 339.86c/lb in April of 1977 and a record low of 42.50c/lb in October of 2001.

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