IAU was the only US-listed gold-backed ETF to notch notable October inflows. In the fourth quarter, investors have pulled money from GLD, but IAU and SGOL have seen fourth-quarter inflows of $363.1 million and $12.4 million, respectively.
“Global gold-backed ETFs collectively held 2,347.6t at the end of October. Funds added 182.2t of gold year-to-date, equivalent to $7.8bn, which represents an increase of 8% of global AUM from December 2016,” according to the WGC. “Gold ETFs account for a significant part of the gold market, with institutional and individual investors using them to implement many of their investment strategies.”
For more information on the gold market, visit our gold category.
Tom Lydon’s clients own shares of GLD.