- Gold-backed ETFs added 154 metric tons of the metal for net inflows of $8.5B to their stockpile in May, exceeding in five months every full-year increase on record, according to new data from the World Gold Council.
- SPDR Gold Shares (NYSEARCA:GLD) topped all global inflows, adding 67 mt worth $3.7B, followed by iShares Gold Trust (NYSEARCA:IAU), which added 20 mt worth $1.1B.
- YTD inflows totaling 623 mt, representing a value of $33.7B, now exceed what was initially the highest level of annual inflows of 591 mt in 2009.
- At the end of May, gold-backed ETFs held 3,510 mt of gold worth $195B, an all-time high and nearly doublingd over the past 12 months, the World Gold Council says.
- Gold prices pushed back above $1,700/oz. today; spot gold rose 0.5% to $1,706.05/oz., recovering from a slide to a nearly one-month low of $1,688.89 in the previous session, while U.S. gold futures settled up 0.4% at $1,710.90.
- ETFs: GLD, IAU, PHYS, UGLD, SGOL, UGL, BAR, AAAU, GLDM, GLDI, DGP, OUNZ
Gold ETF inflows through May topped any full calendar year, WGC says
SPDR® Gold Shares ETF (GLD), IAU, PHYS, UGLDF, SGOL, UGL, BAR, AAAU, GLDM, GLDI, DGP, OUNZ, PHYS:CACarl Surran, 19 Comments