OSE Derivatives

Western activity picked up in July

Regional and fund-specific analysis of gold holdings and flows in USD.

Gold-backed ETFs and similar products account for a significant part of the gold market, with institutional and individual investors using them to implement many of their investment strategies. Flows in ETFs often highlight short-term and long-term opinions and desires to holding gold. The data on this page tracks gold held in physical form by open-ended ETFs and other products such as close-end funds, and mutual funds. Most funds included in this list are fully backed by physical gold.

Highlights

• Global gold ETFs experienced their strongest month since April 2022, attracting US$3.7bn in July, the third consecutive monthly inflow; all regions saw inflows with Western funds leading the way
• Recent inflows and the rising gold price pushed global gold ETFs’ total AUM to US$246bn, a month-end peak. Collective holdings rebounded to 3,154t, the highest since January
• Trading volumes rose across the board in July with exchange-traded derivatives leading the rebound, while growing prospects of rate cuts from major central banks pushed up COMEX gold future net longs to a multi-year month-end high.

July in review

Global physically-backed gold ETFs have now seen inflows three months in a row, adding US$3.7bn in July.

Notably, all regions reported positive flows this month with Western gold ETFs contributing the most. A combination of the July inflow and a 4% rise in the gold price pushed total global assets under management (AUM) 6% higher to US$246bn, a new month-end record. Collective holdings concluded July with a 48t increase, reaching 3,154t.

Please see the link below for the full report.

You can also learn JPX gold-related products from here.