European gold ETFs hit record highs

Gold ETFs have continued to soar with European-listed ETFs funds leading October gold ETF flows, adding 31.3 tonnes (USD1.2 billion, 1.9 per cent of AUM), or 70 per cent of net inflows, according to Juan Carlos Artigas (pictured), Director of Investment Research at the World Gold Council (WGC).

Two-thirds of European gold-backed ETF inflows came from UK-listed funds, as inflows persisted ahead of the 31 October Brexit deadline, while North American funds added 13.2 tonnes (USD585 million, 0.8 per cent) and Asian funds listed in Asia decreased by 0.8 tonnes (USD0.9 million, 0.02 per cent).

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