Commodities Buzz: WGC Says Global Gold ETF Outflows Slow Significantly

Commodities Buzz: WGC Says Global Gold ETF Outflows Slow Significantly

May 07, 2021 01:05 IST capital market

The World Gold Council or WGC stated yesterday that Gold exchange traded funds or ETF outflows continue, but slowed with gold price strength in April. Global gold ETFs lost 18.3 tonnes (t) (-US$1.1bn, -0.6% AUM) in April, marking outflows for five of the past six months. However, global outflows slowed significantly, as European funds added assets for the first time since January. Global assets under management (AUM) stand at 3,567t (US$203.0bn), after slipping below $200bn for the first time in over a year during March. Since the peak asset levels in November 2020, gold ETF AUM has fallen nearly 14%, with 8% coming from outflows and 6% coming from the gold price selloff in US dollar terms.

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