Gold soars back to 2012

HOLDINGS in global gold-backed exchange-traded funds and similar products rose by 69 tonnes to 2440t in 2018, equivalent to $3.4 billion of inflows, the World Gold Council says in its latest briefing.
Gold soars back to 2012 Gold soars back to 2012 Gold soars back to 2012 Gold soars back to 2012 Gold soars back to 2012

Staff Reporter

Global gold-backed ETFs grew 3% in 2018, driven by strong growth in European funds and increased global inflows during December.
 
"This is the first time since 2012 that the value of total gold-backed ETF holdings has finished the year above $100 billion." the WGC said. 
 
• Holdings in European funds rose by 96.8t ($4.5 billion, 10%).
 
• North American funds saw outflows of 13.4t ($667 million, 1.3% assets under management).
 
• Funds listed in Asia lost total assets of 4.7t and had outflows of $69 million.
 
• Other regions lost 9.7t ($393 million, 29%).
 
Xtrackers Physical Gold in Germany led global inflows, adding 46t ($1.9 billion) and growing 295% on the year. iShares Gold Trust led North American inflows with 36.7t ($1.6 billion, 16%). SPDR Gold Shares led global outflows, losing 49.8t ($1.8 billion, 5%), while the Central Fund of Canada lost 9t ($890 million) or 41% of its assets.
 
In Asia, Chinese-listed Huaan Yiffu added 7.7t ($315 million, 40%), whereas the collective holdings of the three Bosera funds fell 12.8t or $460 million. NewGold in South Africa lost 11.1t ($454 million, 36%). The country's base currency fell 16%, elevating gold returns for South African investors who likely took profits following a double-digit local gain.
 
Overnight, the gold price was fixed at $1288.86 per ounce
 
The WTI crude oil price was slightly up overnight at $52.66  per barrel.
 
In softer commodities, cocoa increased $29 per tonne or 1.23% to $2380/t yesterday from the $2351 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 decreased 1.05c per pound or 1% to 104.25c/lb yesterday from 105.30c/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.
 
 

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