Global physically gold-backed exchange-traded funds (ETFs) saw inflows of US$10 billion in September.
elchi reports, citing a World Gold Council (WGC) report published on October 7.
According to the information, gold ETF inflows were recorded in all regions in September. The largest inflows were in funds listed in Europe and North America.
Thus, in the third quarter, the total volume of inflows into global gold ETFs reached a record US$31 billion.
Despite the decline in gold prices, the funds’ physical gold reserves increased by 67 tons in September, reaching a record 4,256 tons.
At the same time, the value of total assets under management (AUM) by gold ETFs decreased by 7% month-on-month to US$574 billion.
During the third quarter, the value of total assets of global gold ETFs increased by 9%, and the total gold reserves of the funds rose by 211 tons.
Among countries, the largest inflows in the third quarter were recorded in funds listed in the USA. Funds listed in the UK achieved their highest historical performance during the quarter.
The report notes that gold ETFs and other similar products constitute a significant part of the gold market. Institutional and individual investors implement various investment strategies in these funds.