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.