All regions except Asia witnessed outflows during the month.
SEATTLE (Scrap Monster): The World Gold Council (WGC) noted that global gold ETFs recorded strong outflows during the month of July this year. The outflows of 81 tonnes during the month were primarily driven by weaker gold price and momentum. This was the third consecutive month of outflows and the worst since March 2021.
Year-to-date, global ETFs recorded inflows of 153 tonnes, despite outflows during recent months. This demonstrates the continued strategic demand for gold among investors, said WGC. The total gold ETF holdings stood at 3,708 tonnes, at the end of July this year, higher by 5% when compared with the same month a year ago.
All regions except Asia witnessed outflows during the month. The outflows were led by North American funds, which witnessed a decline by 50.3 tonnes from their holdings, mainly driven by the large and most liquid US funds. However, low-cost gold ETFs in North America continued its monthly trend of inflows. The UK-base funds led the outflows from European funds, which lost 38.1 tonnes in July 2022.
The funds in Asia saw inflows of 8.1 tonnes. All the inflows came from China. The Indian gold ETFs witnessed marginal outflows. Meantime, the funds in other regions recorded outflows of 0.7 tonnes.
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