After three consecutive years of outflows towards a backdrop of excessive rates of interest, the previous 5 months have turned year-to-date web flows in greenback phrases to a optimistic $389 million.
Gold ETFs registered inflows of 18.4 metric tons, or $1.4 billion, in September to elevate collective holdings to three,200 tons, the WGC mentioned in a analysis notice.
A stronger gold value and up to date inflows pushed whole belongings below administration to a month-end peak of $270.9 billion in September.
The WGC, and business physique grouping international gold miners, estimates that worldwide gold buying and selling volumes rose in September by 7% month on month to $259 billion a day whereas common buying and selling volumes within the over-the-counter (OTC) market added 10% to $176 billion.
With the gold value up 28% this yr and the prospect of future U.S. charge cuts, speculators elevated their whole web lengthy place on COMEX by 6% from August to 976 tons by the top of September, the best degree since February 2020.
(Reporting by Polina DevittEditing by David Goodman)