Commodities Buzz: Global gold ETFs? AUM down 6% in H1, collective holdings up 18 tonnes

World Gold Council or WGC has stated in a latest update that Gold-backed exchange traded funds or ETFs flows data for June saw continued outflows from funds listed in all regions, yet global gold ETF flows have remained positive y-t-d. Global gold ETFs’ AUM reached US$526billion (bn) by the end of June, a 6% fall in H1 due mainly to a lower gold price; collective holdings in the first half were up 18 tonnes (t) to 4,047t. Gold market trading volumes pulled back in June yet the H1 average reached an all-time high. Global investors further trimmed their gold ETF holdings in June. Physically backed gold ETFs1 saw outflows of US$8.9bn in the month. All regions experienced outflows with North America losing the most. In the month, global gold ETFs’ total assets under management (AUM) fell 13% to US$526bn, whilst holdings reduced by 74t to 4,047t. Despite June’s loss, global gold ETF flows remained positive at US$8 billion in H1. Asia dominated global inflows – the region’s strongest H1 on record – while North America was the only region with losses. Europe saw healthy inflows. Global gold ETFs’ AUM fell 6% in H1, reflecting the lower gold price despite positive inflows. Collective holdings rose slightly by 18t.

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