![Global gold ETFs see worst H1 in 11 years](https://cdn.magzter.com/1547192204/1720645699/articles/G8ziyxYQcdcr6kCVN8Bsys/GLOBAL-GOLD-ETFS-SEE-WORST-H1-IN-11-YEARS.jpg)
Global physically-backed gold exchange-traded funds (ETFs) lost $6.7 billion in the first half of calendar year 2024 (H1CY24), their worst performance since 2013, according to a recent note by the World Gold Council (WGC).
Total holdings dropped by 120 tonnes, or 3.9 per cent, to 3,105 tonnes in this period. "While Asian funds attracted a record $3 billion during the first half of 2024, they were significantly outpaced by collective outflows in North America and Europe to the tune of $9.8 billion," said WGC. Western gold ETF investors did not react as anticipated to a rise in gold price - it usually drives up investment flows - amidst a high level of interest rates and a "more risk-on sentiment” generated by the artificial intelligence boom, said the report.
Bu hikaye Business Standard dergisinin July 11, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin July 11, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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