Gold ETF Inflows Continued Rising In April – World Gold Council

Gold ETF Inflows Continued Rising In April – World Gold Council

Exchange-traded funds (ETFs) backed by physical gold continued to record inflows in April, latest data from the World Gold Council (WGC) showed.

Net inflows totalled $824 million while holdings increased by 15 tonnes, the body noted. Global funds held a total of 3,459 tonnes of the yellow metal as of the end of last month.

Following two successive monthly inflows, total assets under management in gold-backed ETFs rose 1% to $221 billion by the end of April.

However, the WGC noted that gold ETF demand remained negative for the first four months of 2023, with holdings falling 13 tonnes. Net outflows stood at an aggregate $654 million due to heavy outflows in Europe during January and February.

Regional Differences

The WGC noted that investor demand remained weak in Europe last month, too, whilst all other regions recording inflows.

North American funds attracted inflows of $984 million in April, with holdings rising 15 tonnes to take the total to 1,753 tonnes.

The WGC commented that "weaker-than-expected economic data worsened investors’ recession fears, supressing Treasury yields and lifting safe-haven demand for gold."

It added that "the positive gold price performance during the month may have also contributed." Bullion prices increased fractionally in April but rose to its more expensive in