Due to the obvious profit-making effect of precious metals this year, gold ETF is expanding continuously, and the latest position of SPDR, the largest gold ETF in the world, has reached 1262.12 tons. As of July, global gold ETFs and similar products had a net inflow for eight consecutive months. Its total position increased by 166 tons in the same month, and the asset management scale increased by 4% (US $9.7 billion). The global total holding reached 3785 tons, setting a new record.
In the first seven months of 2020, global gold ETF inflows amounted to 899 tons (about US $49.1 billion), much higher than the previous annual record. At the beginning of August, when the gold price broke through 2000 USD / oz, the growth trend of global gold ETF was still continuing.
Gold ETFs from all regions of the world flowed in July, while funds in North America once again became the dominant force, accounting for 75% of the global total net inflow. Total gold ETF positions in the region rose 118 tons (5.5% of total asset management). In Europe, fund positions increased by 40 tons, accounting for 2.1%. Total gold ETF positions in Asia rose by 4.9 tons to $370 million, or 5.6%.
Domestic gold ETFs also performed well, with Huaan gold ETF, Boshi gold ETF, e-fund gold ETF and Cathay Pacific gold ETF all increased by more than 9% in the second quarter. Recently, the gold ETF in A-share market has increased significantly.
The latest position of Ishare, the worlds largest silver, was 17823.22 tons.
However, in contrast to gold ETF, physical gold was abandoned. We recently received 35 people selling money one day. Zhu Zhigang, vice president and chief gold analyst of Guangdong gold association, told 21st century economic reporter.
Cao Xiaojun, an analyst of Huaan futures, said that the recent deterioration of global epidemic situation, the weakening of the US dollar and the intensification of geopolitical conflicts have led to a significant rise in precious metal prices in the near future. COMEX futures reached a record high, rising nearly 11% in July and 2.61% in the first week of August. ETF investment enthusiasm remained high, with the worlds largest gold etf-spdr position increasing by about 42% this year. The progress of central banks purchase of gold slowed down, and the speculative net long position of New York Futures was fluctuated, and the trend was not obvious. Looking forward to the future, the US economic indicators are warmer, the US Federal Reserves balance sheet has contracted, and the US dollar index shows signs of stopping falling. Gold bulls need to be vigilant against high risk. It is suggested to reduce long positions and maintain long-term allocation. In order to lock profits, reduce costs and improve efficiency, it is also possible to replace building positions with gold options.
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