Gold holdings rise 16.5t

HOLDINGS in global gold-backed exchange-traded funds and similar products rose in October by 16.5 tonnes to 346t, equivalent to $1.0 billion in inflows.

  • Staff Reporter
  • 09 November 2018
  • 05:15
  • News
Gold holdings rise 16.5t

Related Content

The World Gold Council says this was the first monthly inflow in four months. Positive gold price performance for the month (up 2.3% in US dollars) was a key driver of inflows in North American and European funds. Global assets under management rose by 3.1% in US dollars relative to September.
 
• North American funds had inflows of 12.4t ($561 million, 1.2% AUM)
 
• Holdings in European funds rose by 10.5t ($679 million, 1.7%)
 
• Funds listed in Asia decreased by 6.5t ($259 million, 8.4%)
 
• Other regions saw a small increase in holdings of 0.2t ($19 million, 1.5%)
 
Collectively, flows in gold-backed ETFs remain negative by 25.8t despite the recent trend driven by a strong US dollar and bearish gold market sentiment
 
After starting the year strong, Asian funds have given up all their gains and are now negative losing 4% of their assets year to date.
 
Overnight, the gold price was fixed at $1225.39 per ounce.
 
The WTI crude oil price was slightly down overnight at $60.58 per barrel.
 
In softer commodities, cocoa decreased $118 per tonne or 4.95% to $2265/t yesterday from the $2383 in the previous trading session, tradingeconomics.com reported. Historically, cocoa reached an all-time high of $4361.58/t in July of 1977 and a record low of $211/t in July of 1965.
 
Coffee increased 1c  per pound or 0.87% to 116.60c/lb yesterday from 115.60c/lb in the previous trading session, tradingeconomics.com reported. Historically, coffee reached an all-time high of 339.86c/lb in April of 1977 and a record low of 42.50c/lb in October of 2001.
 
 
 

PNGReport newsletter

Company Profiles

Upcoming Events