{"id":1098410,"date":"2019-02-06T22:18:55","date_gmt":"2019-02-06T22:18:55","guid":{"rendered":"http:\/\/www.mining.com\/?p=968509"},"modified":"2019-02-06T22:18:55","modified_gmt":"2019-02-06T22:18:55","slug":"gold-price-etf-inflows-reach-100m-a-day","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1098410","title":{"rendered":"Gold price: ETF inflows reach $100m a day"},"content":{"rendered":"

According to the latest report<\/a> by the World Gold Council holdings in global gold-backed ETFs and similar products rose 72 tonnes in January, hitting the highest levels since to 2,513 tonnes (80.8m troy ounces), the highest in nearly six years.<\/p>\n

In dollar terms net inflows in January equaled $3.1B with the value of gold held in ETF vaults reaching just shy of $107B by the end of the month, a 6% rise.<\/p>\n

Last month was \u00a0the fourth consecutive month of net inflows according to WGC data and thanks to a blockbuster December, 185 tonnes or $8B was injected into the scores of funds of listed around the world over the past four months.<\/p>\n

More than $112.5B of gold was traded on average each day in 2018<\/q><\/p>\n

The industry body says the inflows were driven by market uncertainty and a shift in sentiment that drove the price of gold 3.5% higher in January.<\/p>\n

Fund flows strongly reversed the Q3 2018 declines with total inflows of or 9% over the past four months.<\/p>\n

North American gold investors led the buying with funds in the region enjoying 53 tonnes or $2.2B of net inflows.<\/p>\n

Low-cost ETFs, defined by the WGC as funds that charge less than 2% management fees, are becoming particularly popular adding 16 tonnes (worth roughly $700m) over the past six months, representing growth of 53%.<\/p>\n

\"Gold<\/p>\n

As at 31 January 2019 <\/b> Graphic World Gold Council. Data sources: Bloomberg, Company Filings, ICE Benchmark Administration, Shanghai Gold Exchange, World Gold Council<\/p>\n<\/div>\n

WGC notes that global gold trading volumes<\/a> increased in January on par with 2018 averages. More than $112.5B of gold was traded on average each day in 2018 in over-the-counter transactions, futures exchanges and ETFs.<\/p>\n

That compares to trading volumes of $23B in Dow Jones stocks and not far behind all the shares traded as part of the S&P 500 index ($124.7B).<\/p>\n

Sentiment and positioning in Comex futures in New York is unclear as there has not been an update to positioning by large-scale speculators such hedge funds since mid-December; a consequence of the US government shutdown.<\/p>\n

The WGC says it believes \u201cnet longs increased yet remain below historical averages.\u201c<\/p>\n

A recent study by the WGC <\/a>showed bearish positioning in futures historically precedes strong rallies<\/a> in the price of gold. <\/p>\n

Gold closed at $1,314.40 an ounce on the Comex market in New York on Wednesday, down on the day but up more than $130 an ounce from its summer lows.<\/p>\n

The post Gold price: ETF inflows reach $100m a day<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

US govt shutdown means we don’t know how hedge funds are positioning themselves, but everyone else seems to be piling into gold.<\/p>\n

The post Gold price: ETF inflows reach $100m a day<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[404,369,428],"tags":[25,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1098410"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1098410"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1098410\/revisions"}],"predecessor-version":[{"id":1098444,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1098410\/revisions\/1098444"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1098410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1098410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1098410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}