Global Gold ETFs Add $2.97 Billion in July as Europe Ends 2-Month Outflow Streak
Updated
Updated · Kitco NEWS · Aug 6
Global Gold ETFs Add $2.97 Billion in July as Europe Ends 2-Month Outflow Streak
3 articles · Updated · Kitco NEWS · Aug 6
Summary
Global gold ETF holdings rose 23.5 tonnes in July, worth $2.965 billion, reversing two straight months of outflows as investors returned after prices stabilized.
Prices near $4,000 an ounce drew tactical buying for diversification after June redemptions, and gold snapped a four-month losing streak with an about 2% gain in July.
European-listed funds drove the rebound with 17.3 tonnes of inflows worth $2 billion, led by the UK at $875 million and Switzerland at $657 million.
Asian-listed ETFs added 4.8 tonnes, or $616 million, with China leading on safe-haven demand, while North American funds saw only a tentative 0.3-tonne, $71 million inflow and remained the only region in net outflow year to date.
Year to date, global gold ETF inflows total $11 billion and 39 tonnes, with Asia still the biggest contributor overall, followed by Europe.