China News Service, Beijing, June 9 (Reporter Yan Xiaohong) The World Gold Association disclosed on the 9th that gold investment demand rose sharply in May, and global gold ETF (Exchange Traded Fund) holdings rebounded strongly.
In May, the total global gold ETF holdings increased by 61.3 tons, reversing the trend of net outflows for three consecutive months.
According to the analysis of the World Gold Association, the main reason is that investment demand has increased with the strengthening of gold prices, while market inflation concerns have reappeared, and factors such as the weakening of the US dollar and the decline in real yields also exist at the same time.
The report believes that large funds in the United States, the United Kingdom, and Germany have once again become the dominant force in the flow of gold ETFs, and they dominate the trend of net inflows.
North American fund holdings increased by 34.5 tons, and European fund inflows were 31.2 tons.
The size of funds in other regions fell by 1.9%.
Asian listed funds have flowed out for the second consecutive month, and the strong performance of the Chinese stock market and the renminbi has reduced the demand for safe-haven Chinese investors.
However, in terms of the growth rate this year, Asia still maintains the strongest growth trend. Asian gold ETF holdings have increased by 11% as of the end of May.
According to the World Gold Council, after two consecutive months of decline, the average daily gold trading volume in May achieved a substantial rebound, rising to 176 billion US dollars, slightly higher than the average level of 165 billion US dollars in 2021 and lower than 1830 in 2020. The average level of 100 million U.S. dollars.
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