Nevertheless, gold ETFs had three consecutive years of outflows amid excessive world rates of interest, and the most recent two months of inflows solely barely restricted the losses for the primary half of 2024, the WGC mentioned.
Gold ETFs noticed the influx of 17.5 metric tons, or $1.4 billion, in June, the WGC, an business physique whose members are world gold miners, mentioned in a analysis word.
A stronger gold value and up to date inflows pushed the entire property below administration to $233.3 billion, however their collective holdings at 3,105.5 tons stay close to their lowest since 2020.
For January-June 2024, the outflow totalled $6.7 billion, or 120 tonnes, the biggest loss for the reason that first half of 2013, with outflows led by funds in Europe and North America, the WGC mentioned. Asia was the one area with inflows to this point this yr.
(By Polina Devitt; Modifying by David Evans)