The World Gold Council reports that global assets under management (AUM) fell by 2% in US dollars to $105 billion over the month.
However, global gold-backed ETF flows remain positive on the year ($1.7 billion, 2% AUM) on the back of strong inflows in January.
Regional flows: North American funds had outflows of 29t ($1.2 billion, 2.3%AUM); holdings in European funds were flat (tonnage loss but fund inflows) -0.3t ($37 million, 0.1%); funds listed in Asia decreased by 3t ($147 million, 4.6%) Other regions were virtually flat, falling by 0.1t ($2.5 million, 0.2%)
Overnight, the gold price was fixed at $1295 per ounce
The WTI crude oil price was up overnight at $58.49 per barrel.
In softer commodities, cocoa decreased $1 per tonne or 0.05% to $2203/t yesterday from the $2204 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 1.65c per pound or 1.78% to 94.45c/lb yesterday from 92.80c/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.