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Gold ETF Flows: May 2024
Data as of 31 May, 2024 Physically backed gold ETFs saw their first monthly inflow since last May, amounting to US$529mn. A stronger gold price (+2%) and inflows pushed gold ETFs’ total assets under management (AUM) 2% higher to US$234bn, the highest since April 2022. And with improved gold ETF demand in May, collective holdings rebounded to 3,088t, but remaining -8.2% below the 2023 average (3,363t). European and Asian funds drove global inflows. While May marks Asia’s 15th consecutive monthly inflow, Europe recorded their first positive flow since last May. Meanwhile, North American fund flows turned negative ... (full story)