Featured Report
Gold Demand Trends Q1 2021
Strengthening consumer demand mitigated the impact of ETF outflows as global economies continued to recover
North American gold ETF funds drove 86% of Q1 net outflows
Global gold ETFs lost 107.5t tonnes (t) (-US$5.9bn, -2.9% AUM) in March, marking outflows for the fourth month out of five and the second month in a row with net outflows cracking the top 10 worst historically. Global assets under management (AUM) stand at 3,574t (US$194.5bn), back to levels last seen in mid to late Q2 2020. Since the peak asset levels in November 2020, gold ETF holdings have fallen nearly 10% in tonnage terms, on par with the approximate loss in the price of gold over the same period.
Gold Market Commentary
A sharp rise in US interest rates and a stronger dollar have weighed on gold recently. But a rebound in economic activity and a lower gold price have provided opportunities for consumers and strategic investors alike.
Gold ETFs lost 2% of holdings in February as gold fell and rates rose
Global gold ETFs lost 84.7 tonnes (t) (-US$4.6bn, -2.0% AUM) in February, marking outflows for the third time in four months, and the seventh worst historical monthly holdings loss. Global assets under management (AUM) now stand at 3,681t (US$207bn), levels last seen in June 2020, when the price of gold was near the February closing level of US$1,743/oz.
Gold ETF inflows total almost 14t in January as outlook remains supportive for gold investment
Global gold 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.
Gold and cryptocurrencies
How gold’s role in a portfolio differs from cryptos
Gold Demand Trends Full year and Q4 2020
Weak Q4 set the seal on an 11-year low for annual 2020 gold demand
Gold Outlook 2021
The COVID-19 pandemic raised uncertainty by both compounding existing risks while creating new ones. But by the end of last year, investors were optimistic that the worst was over.
Record gold-backed ETF inflows of 877t in 2020 took holdings to all-time highs
By any measure, gold-backed ETFs and similar products (gold ETFs) had a remarkable year in 2020. Globally, gold ETFs had record annual net inflows of US$47.9bn, or 877 tonnes(t), collectively increasing their gold holdings by over a third, reaching all-time highs in tonnage (3,752t).
