Gold ETFs bounce back


Global gold exchange-traded funds (ETFs) witnessed an inflow of $3.4 billion after three months as gold prices went up by 7% in May, as per a report from the World Gold Council.

The global assets under management (AUM) of gold ETFs stand at 3,628 tonnes ($222 billion). The AUM is now only 9% shy of the August 2020 high of $240 billion and 7% shy of the October 2020 tonnage high of 3,908 tonnes, as per the report.

This is a result of strengthening of gold prices, which have remained subdued this year as the year-till-date return of the yellow metal is almost flat due to inflation concerns, weaker US dollar and low real yields.


Larger funds in the US, UK and Germany were once again the primary driver of flows, flipping to net inflows. North American funds added 34.5 tonnes ($2.1 billion, 2% change), while European funds saw inflows of 31.2 tonnes ($1.6 billion, 1.9%). Funds in ‘Other’ regions lost 1.9% of assets (-1 tonne, $69 million). Asian-listed funds had outflows for a second straight month ($210 million, -2.7%).

As far as India is concerned, the consumption demand again saw a decline as the country was hit by the second wave of covid. Meanwhile, global central banks’ purchases of gold have again gone up.


Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.


Never miss a story! Stay connected and informed with Mint.
our App Now!!

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook


We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News


Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More