Gold ETFs: Two all-time-highs in Q1

News Arnulf Hinkel – 17.04.2020

The temporary massive selling of gold-backed ETFs by speculators and institutional investors to increase their liquidity did not break the upward trend in demand for gold-backed ETFs and ETCs we have been seeing since the end of 2018. Even in the first quarter of 2020, an extremely volatile gold price did not deter investors from buying gold to hedge against stock market fluctuations and the economic uncertainty amid the spreading Covid-19 pandemic. 

Gold-backed ETFs see all-time highest quarterly inflows

According to the most recent World Gold Council data, assets invested in gold-backed ETFs and ETCs increased by US$23 billion within the first quarter of this year, equalling net inflows of 298 tonnes of gold. Over the year, assets invested in gold-backed ETFs and ETCs increased by 57 per cent, the equivalent of 659 tonnes, since Q1 2019.

Gold holdings in ETFs and ETCs at all-time high 

In most regions and countries, gold demand increased sharply in the first quarter of 2020, with double-digit growth across Europe and Asia. Following further increaseing demand in March and the first days of April, the global gold holdings in ETFs and ETCs stand at 3210.3 million tonnes (as of 3 April 2020). Demand was highest in Europe, with the UK leading the way with an inflow increase of 94 tonnes of gold. The largest increases were noted in Ireland at 98 per cent, France at 51 per cent and Turkey at 30.9 per cent. Of the 18 countries with the most extensive gold asset holdings managed in ETFs and ETCs, only Malaysia saw significant outflows of 47.3 per cent. This, however, corresponds to a mere 3.7 tonnes of gold. 

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