The North American funds recorded an outflow of 75 tonnes during the year.
SEATTLE (Scrap Monster): The report published by the World Gold Council (WGC) noted that global gold ETFs registered net outflows during the previous year. The funds in North America, Europe as well as Asia contributed to the dip in holdings in 2022, though it was primarily led by two of the largest and most liquid North American funds- SPDR Gold Shares and iShares Gold Trust.
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The North American funds recorded an outflow of 75 tonnes during the year. The SPDR Gold Shares saw its holdings dip by 58t, whereas iShares Gold Trust lost 42t. Also, Wisdom Tree Physical Swiss Gold and WisdomTree Physical Gold Fund in the UK witnessed largest losses among European funds, with holdings declining by 16t and 14t respectively. The German-listed Xtrackers Physical Gold and Xetra-Gold too saw declines.
The funds listed in Asia reported net outflows of 21t. The outflows were led by Chinese funds Bosera Gold, Huaan Yifu and E Fund, which saw their holdings decline by 10t, 8t and 6t respectively. The substantial fall in Chinese funds was offset by demand for Japanese and Indian funds.
Meantime, the Other region funds rose marginally by 0.2t during the previous year, said the WGC report.
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