Global physically backed gold exchange-traded funds (ETFs) attracted $10 billion in inflows in September, stated in a report published by the World Gold Council (WGC) on October 7, APA-Economics reports.
According to the report, inflows into gold ETFs were recorded across all regions in September. The largest inflows went to funds listed in Europe and North America.
As a result, total inflows into global gold ETFs reached a record $31 billion in the third quarter.
Despite the decline in gold prices, the funds’ physical gold holdings increased by 67 tonnes in September to a record 4,256 tonnes.
At the same time, the total value of assets under management (AUM) by gold ETFs fell by 7% month-on-month to $574 billion.
During the third quarter, the total value of assets held by global gold ETFs increased by 9%, while the funds’ total gold holdings rose by 211 tonnes.
By country, the largest inflows in the third quarter were recorded in funds listed in the United States. Funds listed in the United Kingdom, meanwhile, reached their highest quarterly level on record.
The report noted that gold ETFs and other similar products constitute a significant part of the gold market. Institutional and individual investors use these funds to implement various investment strategies.
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