Gold-backed ETF holdings grew 15% in June — reaching 7-year high
Mining News Pro - Global holdings in gold-backed ETFs and similar products grew by 127 tonnes (equivalent to $5.5 billion in inflows) in June, up to 2,548 tonnes –- the largest monthly increase in seven years –- according to data compiled by the World Gold Council, on the back of heightened geopolitical uncertainty causing central banks around the world to go on a gold hunt.
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According to Mining News Pro - The result was that gold price moved to a six-year high, breaking over the $1,400/oz threshold last month.

The following trends were observed in the gold ETF market for the month of June, based on WGC data.
Regional fund flows

    North American funds had inflows of 65 tonnes ($2.9 billion, 5.0% of AUM).
    Holdings in European funds rose by 59 tonnes ($2.5 billion, 4.7%).
    Funds listed in Asia increased by 2.4 tonnes ($107 million, 3.3%).
    Other regions had inflows of 0.4 tonne ($16 million, 1.2%).

Individual fund flows

    In North America, SPDR Gold Shares added 51 tonnes ($2.2 billion, 7.2%), and experienced its largest, one-day inflows of all time on June 21, while iShares Gold Trust added 12 tonnes ($537 million, 4.6%) and low-cost gold-backed ETFs added $72 million or 3% of assets.
    In the UK, ETFS Physical Swiss Gold added 23 tonnes or nearly $1 billion and grew by 115% during the month. iShares Physical Gold ETC added 20 tonnes ($900 million, 21%) and Invesco Physical Gold added 5.7 tonnes ($240 million, 4.2%).
    In China, Bosera’s listed fund added $45 million or 13% of its assets last month, and Huaan Yifu added $43 million, but leads global outflows on the year losing $348 million or 32% of its assets.

Long term trends

    European gold-backed ETF holdings represent its largest percentage of total global assets in history at 47% of total assets, trailing North America by $3.6 billion.
    Flows in the larger North American funds have been momentum driven with the recent price increase pushing year-to-date flows into positive territory (2.7% of AUM).
    Long-term strategic holders continue to add to low-cost gold-backed ETFs on a consistent basis, with inflows during 12 of the past 13 months, growing 84% over that period.
    Outflows of more than 11% in Chinese funds have been a function of profit taking and a shift to riskier assets in the region.
    Political uncertainty and a weaker pound sterling have supported inflows to UK-based gold-backed ETFs, which remain at all-time highs. UK-based holdings have grown to 554 tonnes or 22% of global gold-backed ETF assets.


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