This brings first half global net inflows to 734t ($39.5bn), substantially above the highest level of annual inflows, both in tonnage terms (646t in 2009) and US-dollar value ($23bn in 2016).
To put this strength of demand into context, first-half inflows are also substantially higher than the multi-decade record level of central bank net purchases seen in 2018 and 2019, and could absorb a comparable amount of about 45% of global gold production in first half of 2020.
In terms of regional flows:
• North American funds had inflows of 83t ($4.6 billion, 4.3% AUM).
• Holdings in European funds increased by 18t ($745.7 million, 0.8%).
• Funds listed in Asia saw holdings rose marginally by 0.4t ($36.7 billion, 0.6%).
• Other regions had inflows of 3t ($150.1 million, 4.4%).
Over the first six months of 2020, global gold ETF holdings (in tonnage terms) have increased by 25%; holdings in both tonnage and value terms continue to reach new highs; and North American and European funds now account for 52% and 43% of global tonnage holdings respectively.
"The market shares from these two regions have been diverging since late March," the World Gold Council said.