Sunday, February 28, 2021

Tag: Holdings in Gold-Backed ETFs Grew 14% in 2019

Holdings in Gold-Backed ETFs Grew 14% in 2019, Hit All-Time Highs

by Peter Schiff, Schiff Gold:

Net inflows of gold into gold-backed ETFs came in at 400.3 tons in 2019, according to data released by the World Gold Council. ETF gold holdings grew by 14% last year and finished at 2881.2 tons.

Overall, global gold-backed assets under management grew by 37% in US dollars due to positive demand and an 18% increase in the price of gold.

ETF gold-holdings reached a record 2,900 tons in the fourth quarter. The previous record for ETF gold holdings was set back in 2012 when the price of gold was near $1,700 per ounce.