Global gold-backed ETF holdings add 877 tonnes in 2020: WGC

0 Comment(s)Print E-mail Xinhua, January 15, 2021
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BEIJING, Jan. 15 (Xinhua) -- Net inflows to global gold-backed exchange-traded funds (ETFs) amounted to 877 tonnes (equivalent to around 47.9 billion U.S. dollars) in 2020, data from the World Gold Council (WGC) shows.

The figure brought total global holdings of gold ETFs to 3,752 tonnes by the end of last year, according to the WGC.

Gold is widely viewed as insurance against accelerating price rises. Since the beginning of 2020, concerns over the impact of the COVID-19 pandemic have boosted interest in the yellow metal, most notably gold ETFs.

According to the WGC, holdings of gold ETFs listed in North America saw an inflow of 563 tonnes in 2020, accounting for nearly two-thirds of the annual global net inflows, while those listed in Europe, Asia and other regions increased by 260 tonnes, 38 tonnes and 16 tonnes, respectively. Enditem

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