36t more gold for N America

THE World Gold Council has released its monthly analysis of gold-backed exchange traded funds and similar products which found that North American investors added 36 tonnes of gold through funds listed in the region.

  • Staff Reporter
  • 06 October 2017
  • 05:08
  • News
36t more gold for N America

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The value of this amounted to $2.5 billion. In Europe, the reverse occurred where there were outflows of 12t valued at $229 million over the month. Asia funds lost 1.7t at $57 million.
 
"Global gold-backed ETFs collectively hold 2,357t, as funds added 191.9t of gold, equivalent to $7.5 billion so far, this year. This represents an increase of 7.7% of global assets under managment from December 2016," the WGC reported.
 
North American gold-backed funds are catching European funds in global growth in 2017, but still trail 38% to 57%, the WGC said.
 
Gold closed at $1267.35 per ounce yesterday, compared to $1274.31/oz in the previous trading session. 
 
The WTI crude oil price was slightly up overnight at $50.76 per barrel.
 
In softer commodities, cocoa increased $6 per tonne or % to $2084/t yesterday from the $2078 in the previous trading session, tradingeconomics.com 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 2.05c per pound or 1.64% to 127.20c/lb yesterday from 125.15c/lb in the previous trading session, tradingeconomics.com 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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