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As on: Jan 26, 2021 02:32 AM
Commodities Buzz: Gold ETFs See Record Buying In 2020 Says WGC
13-Jan-21   17:26 Hrs IST
The World Gold Council (WGC) has stated that gold-backed ETFs and similar products (gold ETFs) had a remarkable year in 2020. Globally, gold ETFs had record annual net inflows of US$47.9 bn, or 877 tonnes (t), collectively increasing their gold holdings by over a third, reaching all-time highs in tonnage (3,752t). Notably, all regions registered significant growth in assets under management (AUM)1 - more than the foreign reserve holdings of any central banks except for the US and only 15% below the portion of reserves that the US stores at Fort Knox. North American funds had inflows of 563t (US$31.9bn, 45% AUM) while holdings in European funds grew by 260t (US$13.3bn, 21%). Funds listed in Asia saw holdings rose by 38t (US$1.9bn, 49%) and other regions had inflows of 16t (US$899mn, 41%).

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