ETF Gold Holdings Rise In Oct. For First Time In Four Months
Holdings now stand at 2,345.6 tonnes. Still, they are down 25.8 tonnes for the year to date.
“Global stock markets experienced their worst October since the 2008 financial crisis, with the MSCI All-World Index down more than 7.4% on the month,” the WGC said. “As a result, gold benefited from flight-to-safety investment flows. Further, U.S. dollar-hedged gold benefited in the stronger dollar risk-off environment, rallying 4.3% on the month.”
Flows into North America-based ETFs grew by 12.4 tonnes during the month, the WGC said. Holdings in European ETFs climbed by 10.5 tonnes, while those in Asia decreased by 6.5 tonnes. There was a 0.2-tonne increase for “other regions.”
SPDR Gold Shares led global inflows, gaining 11.8 tonnes during the month, while iShares Gold Trust added 5 tonnes.