Market Speaks: Gold ETF holdings in China dip 3t amid investor rotation- WGC

Chinese gold ETFs recorded RMB 2.4 billion (US$325 million) in outflows in July, cutting collective holdings by 3 tonnes to 197 tonnes and trimming AUM by 1% to RMB 151 billion. The pullback came as stronger-than-expected Q2 GDP boosted risk appetite, driving the CSI300 index to its best monthly gain since last September. Rising local bond yields and fading expectations of further PBoC rate cuts also diverted investor interest, while a lack of clear direction in gold prices kept demand muted. Still, year-to-date inflows remain at a record RMB 61 billion (US$8.5 billion, 82 tonnes).

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