At the end of September, total holdings in physically backed gold exchange traded products (ETPs) were 2 335.6t, or 75.1-million ounces, representing a 38.1t month-on-month increase, according to the World Gold Council’s (WGC’s) latest monthly gold-backed ETP update.
In value terms, total holdings were worth $99.3-billion – 3% higher than at the end of August.
The update stated that flows into North American and European ETPs were once again positive, with European ETPs increasing by 34t, or 4%, to 876.9t, while holdings in North American ETPs increased by 6.5t, or 0.5%, to 1 339.6t.
Asian ETPs decreased by 0.9 t, while other ETPs declined by 1.5t, primarily as a result of outflows from the NewGold exchange traded fund (ETF) in South Africa.
In Europe, Germany-based bearer bond Xetra-Goldregistered the largest inflows during the month, seeing a 20%, or 18t, increase to 109.7t.
Gold ETPs in the UK increased by a total of 9 t, while those in Switzerland and Italy also saw growth in assets under management.
In North America, SPDR Gold Shares added 4.7t to 948t, while holdings in iShares Gold Trust grew by 1%, or 1.2t, to 226.7t.
Total holdings in Asian gold ETPs saw a marginal decline of 1% to 70.4t, compared with the end of August.
The WGC update noted that the Guotai Gold ETF was the only Chinese ETF to see an increase during the month, up 0.4 t to 2.4t.
Source: Mining Weekly
