World Gold Council reports ETF reversal in November, but still record year

World Gold Council/Gold Hu

“In November, gold-backed ETFs and similar products (gold ETFs) recorded their first net outflows in twelve months and second largest monthly outflows ever. Gold ETF holdings decreased by 107 tonnes (t) during the month – US$6.8bn or 2.9% of assets under management (AUM) – as the gold price had its worst monthly move (-6.3%, US$1,763/oz) since November 2016, when it dipped 7.4%.”

USAGOLD note:  We were due for a turnaround at some point. That said, the 916 metric tonne net gain thus far this year is still the largest on record and 50% higher than the previous highpoint in 2009 (646 metric tonnes).

ETF Stockpile Flows by Region

ETF stockpile flow 2020

chart color code ETF stockpile flows f=by regionChart courtesy of World Gold Council • • • Click to enlarge

Repost from 12-11-2020

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