Gold Silver Reports — At the end of March, total holdings in gold-backed ETFs and similar products stood at 2,251.8t (72.4 moz), up 5.9t from February. These holdings were valued at US$90.1bn, 1% lower than a month earlier.
Inflows to European funds offset a mild decline in North American fund holdings. Led by increases in Germany and United Kingdom, European funds added 18.3t (+2%) to 941.2t. North American funds shed 11.6t (-1%) to 1,195.9t. Funds in Asia and other regions were largely unchanged at 67.7t and 46.9t, respectively.
In Europe, Germany’s Xetra-Gold (the regional largest) added 2.0t in March to 162.9t, putting further distance between it and its nearest rival – UK’s ETFS Physical Gold (148.7t). DB Physical Gold Euro Hedged ETC, another German fund, enjoyed the fastest growth of all funds for the month. Its holding was 5.2t higher (+22%) to 28.9t.
In North America, holdings under SPDR Gold Shares dropped 8.8t (-1%) to 832.3t in March. iShares Gold Trust lost 2.4t to 199.9t. In Asia, China’s Huaan Yifu Gold ETF – the largest fund in the region – saw its holdings drop 1.5t to 24.9t. — Neal Bhai Reports