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

Related Content

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, 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 1c per pound or 0.79% to 127.50c/lb on Wednesday from 126.50c/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.
 

PNGIndustry newsletter

Mining

Mining advocacy CEO to go

Mining advocacy CEO to go

Acting chief executive named

LNG

New CFO for LNG consultancy

New CFO for LNG consultancy

Focus to connect off-grid customers

Community

Big quake off New Britain

Big quake off New Britain

230km from coast