In its monthly analysis of gold-backed ETFs, the World Gold Council (WGC) presented detailed information and insight on global trends of gold investment demand through ETFs.
According to the WGC, a study of the regional fund flows shows that in North America investors added 36.0 tonnes (t) (+$2.5bn, +4.7% AUM) of gold through funds listed in the region.
In Europe, there were outflows worth 12.0t (-$229mn, -0.57% AUM) over the month.
And in Asia, funds lost 1.7t (-$57mn, -1.7% AUM) with most of the region’s gold-backed funds losing assets.
As per individual fund flows, SPDR® Gold Shares led flows in September accounting for 60% of gross global inflows while iShares Gold Trust added 5.2% to its AUM.
On the other hand, Gold Bullion Securities, listed in London, lost 8.0t (-$312mn, -7.3% AUM).
Two Swiss-related funds had meaningful gains: ETFS Physical Swiss Gold 0.9t (+$44mn, +8.1% AUM), iShares Gold CHF Hedged ETF 0.6t (+$29mn, +8.2% AUM).
The WGC's insight on the year-to-date trends reveals that global gold-backed ETFs collectively hold 2,357t, as funds added 191.9t of gold, equivalent to $7.5bn so far, this year. This represents an increase of 7.7% of global AUM from December 2016.
As far as North American gold-backed funds are concerned, they are catching up to European funds in global growth in 2017, but still trail 38% to 57%.
And, inflows into SPDR® Gold Shares and iShares Gold Trust overtook German-based ETFs Xetra-Gold and db Physical Euro Hedged ETC year-to-date.
Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished