Gold ETFs Face $6.7bn Exodus in H1 2024, Worst First-Half Since 2013 Global gold ETFs experienced a significant downturn in the first half of 2024, with a net outflow of $6.7 billion, marking the worst first-half performance since 2013. Total holdings decreased by 120 tonnes (-3.9%) to 3,105 tonnes. While Asian funds attracted a record $3 billion, they were overshadowed by $9.8 billion in outflows from North America and Europe. This trend is attributed to high interest rates and a risk-on sentiment driven by the AI boom in Western markets, which outweighed the typical positive correlation between gold prices and investment flows. Conversely, Asian investors were drawn to gold due to weaknesses in non-dollar currencies and gold’s strong performance in those currencies. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Target Slashes Prices on 5,000 Items to Woo Inflation-Wary Shoppers READ MORE Crude Oil Rally Continues: Third Weekly Gain as Middle East Tensions Escalate READ MORE July Sees Growth in Gold and Silver Stocks in London Vaults READ MORE Gold Soars to New Heights as Fed Rate Cut Approaches READ MORE Singapore’s central bank MAS boosts gold reserves to nearly 200 tonnes READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment