– Global gold ETF holdings fell to 3,079t by the end of April, the lowest since February 2020, but AUM rose by 3% to US$229bn due to higher gold price.
– Physically backed gold ETFs had outflows of US$2bn in April, leading to overall monthly losses and a 6% decrease from the previous 12-month average.
– Asia and North America had inflows, while Europe saw significant outflows for the eleventh consecutive month.
– North American gold ETFs saw inflows driven by the options market, geopolitical risks, and financial market volatilities, while European outflows were influenced by cooling inflation readings, economic prospects, and geopolitical uncertainties.
– China set records in monthly inflows and reached highest AUM ever, with a 36% increase in assets in 2024.
– Gold trading volumes increased across all regions, with a surge in North America, and significant rise in Gold ETF trading volumes.
– Total net longs at COMEX rose to 717t by the end of April, a 6% monthly increase, mainly supported by a 4% gold price rise.
– April 2024 saw Europe driving the outflows of global gold ETFs, despite some initial inflows and positive trends in other regions. The gold price surge triggered increased trading volumes, while Asia continued its impressive inflow streak.