July Brought Big Inflows for Major Gold ETFs: Commerzbank

Barron’s reported that according to Commerzbank, in July, the SPDR Gold Trust (ARCA:GLD), iShares Gold Trust (ARCA:IAU) and similar exchange-traded funds (ETFs) saw their biggest investor inflows since November 2012.

Commerzbank said:

The 15.7 tons registered constituted the largest monthly quantity since November 2012, but one swallow doesn’t make a summer. Over the year so far on balance, there has still been an outflow of some 30 tons of gold from ETFs. In view of the headwinds presented by additional demand components, the ETF inflows will probably merely have slowed down the price decline in recent weeks. While the present negative factors remain – a strong US dollar, weak physical demand in Asia, and weak coin sales in the west – we do not envisage any serious price gains. In addition to modest coin sales in the US, Australian coin sales too, for example, dipped sharply month on month in July to 25,100 ounces.

Click here to read the full Barron’s report.

Get the Latest Gold Investing Stock Information

Get the latest information about companies associated with Gold Investing delivered directly to your inbox.

Gold Mine Development
Gold Production/Mining
Gold Project Generators
Gold Prospecting and Exploration
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA
Other Companies

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Gold Outlook Report - Late 2017!

Get your FREE Updated Gold Outlook Report

Includes expert commentary, production numbers and gold stocks to keep an eye on.

Click here to get your free report!

Leave a Reply