Created
: 2024.11.12
2024.11.12 23:39
By contrast, Gold ETFs recorded net inflows for the sixth consecutive month in October, Commerzbank's commodity analyst Carsten Fritsch notes.
"According to the World Gold Council, these amounted to 43 tons. This means that almost 164 tons of Gold have flowed into ETFs since May. For the first time this year, Gold ETF holdings were also higher than at the end of 2023, meaning that the net outflows in the first four months of the year were more than reversed."
"In October, there were net inflows in North America (30 tons) and Asia (23 tons), but net outflows in Europe (11 tons). According to the WGC, the inflows in North America were particularly due to the uncertainty in the run-up to the US elections. The inflows in Asia largely occurred in China, where the WGC reported a record inflow for a month."
"This is also noteworthy because traditional Gold demand for jewellery, bars and coins in China has recently been weak. However, it remains to be seen whether the shift in Gold demand towards ETFs is here to stay. ETF outflows in Europe were widespread across all major markets. The WGC attributes this to rising yields and the weakness of local currencies."
Created
: 2024.11.12
Last updated
: 2024.11.12
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy