On Thursday, the World Gold Council (WGC) published data on changes in gold ETFs in November.
On Thursday, the World Gold Council published data on changes in gold ETFs in November. For the first time since April, there were net outflows again, amounting to 28.6 tons. The vast majority, namely 26 tons, occurred in ETFs listed in Europe, Commerzbank’s commodity analyst Carsten Fritsch notes. ETF changes in November correspond with the price trend “The strongest outflows were registered in Germany and the United Kingdom.
” “However, in our opinion, the first three factors mentioned above could just as easily have been in favour of ETF inflows. In the US, there were outflows in the first half of November, followed by inflows in the second half of the month, so that the monthly change was negligible. It is notable that the world's largest gold ETF recorded outflows. This was offset by almost identical inflows into another ETF.
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