News Digest:

Global gold ETFs witnessed inflows in May, ending what has been a 12-month losing streak, according to published reports. Europe and Asia led the global inflows while North America and other regions registered mild losses.

Worldwide gold ETF holdings grew to 3,088 tons by end-May, driven by inflows and higher prices with total assets under management touching $234 billion, which represents a 2% increase during the month and is the highest since April 2022. However, collective holdings were still 8.2% below the 2023 average of 3,363 tons.

Takeaway:

While OTC trading volumes fell marginally, trading across gold markets dropped during the month with momentum at the Shanghai Futures Exchange cooling off even as major ETF markets also showed some decline. While it was Asia’s 15^th consecutive monthly inflow, Europe recorded its first positive flow since May 2023.

End Notes

Source: https://www.gold.org/goldhub/research/gold-etfs-holdings-and-flows/2024/06