Gold Back Above $1800 Per Ounce, ETF Demand Bounces

Published on Feb 08, 2021 11:30

COMEX Gold futures saw a good bounce in last session after testing two month low as good investment demand boosted sentiments after recent spree of losses. The metal added more than 1.30% to close at $1815 per ounce. Global gold Exchange Traded Funds (ETFs) saw inflows of 13.8 tonnes (t) (US$1bn, 0.4%) in January, after two consecutive months of outflows in November and December, which had totalled 148.8t. Global assets under management (AUM) now stands at 3,765t (US$226bn), just 4% shy of the intra-month record 3,915.8t (US$244bn) set in early November last year. North American funds had outflows of 6.3t (-US$302.7mn, -0.2% AUM) while holdings in European funds grew by 17.5t (US$1.1bn, 1.2%).The Funds listed in Asia had minimal net inflows of US$19.2mn (0.3%) while other regions had inflows of 2.7t (US$181.9mn, 4.9%). Global Gold ETF Asset Under Management (AUM) now stands at 3,765t, just 4% shy of the intra-month record set in early November 2020.