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Gold ETF holdings near all-time high

The total holdings of gold-backed exchange-traded funds (ETFs) globally is 59 tonnes or 2% away from the all-time high mark of 2,791t achieved in 2012 when the gold price was US$1,665/oz, new analysis from the World Gold Council shows.
Gold ETF holdings near all-time high Gold ETF holdings near all-time high Gold ETF holdings near all-time high Gold ETF holdings near all-time high Gold ETF holdings near all-time high

Global gold-backed ETFs are a smidge short of achieving all-time high holding levels

Staff Reporter

ETFs and similar products added more assets under management for a third consecutive month in August after achieving a six-year high in July. ETFs reported a net inflow of US$6 billion last month as total holdings rose by 122t to 2,733t, according to WGC data.

North American funds drove the bulk of demand with inflows rising by 78t or 5.5% in August. The SPDR Gold Shares fund led the charge, adding AUM of 55t, followed by iShares Gold Trust, which added 18t.

European funds saw inflows of 33t, or 2.8%, and Asian funds reversed year-to-date outflows by adding nine tonnes or 12%.

UK-based funds led European inflows, with the Invesco Physical Gold fund and iShares Physical Gold both adding 9.3t of gold to their holding in August. In China, the Huaan Yifu fund added 5.4t on the back of increased investment apetite.

To date, ETFs around the world have added 10.4%, or 292t to their AUM.

Strong inflows in North American-listed funds over the past three months had increased the regions' contribution to 2019 growth, the council said. As of end August, North America added 152t compared to 139t in Europe.

Gold traded at $1,518.80/oz in New York on Thursday.