Commodities Buzz: Global gold ETFs AUM down 6% in H1, collective holdings up 18 tonnes
Mumbai, July 9 -- 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 mon...
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