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China, India and Japan Boost Asian Gold ETF Demand

China, India and Japan Boost Asian Gold ETF Demand
China, India and Japan drive renewed Asian appetite for gold ETFs; global inflows hit $18 billion in August · businesstoday.in

Investors in Asia bought more gold through exchange-traded funds, which are investment products that track gold.

China had the biggest increase, followed by India and Japan.

Chinese funds received about US$1.54 billion in August.

Indian funds received about US$260.2 million, and Japanese funds received US$174.4 million.

Gold ETF holdings around the world reached a record 4,189 tonnes.

The World Gold Council said investors were attracted by gold’s rising price and concerns about currencies, government finances and bond markets.

Global gold ETF assets reached about US$615 billion.

The article gives slightly different global inflow totals, listing US$17.86 billion for August and about US$29 billion year to date in the text, compared with US$28.53 billion year to date in its table.

Key facts

Asian August inflows
US$2.04 billion, according to the regional table.
China August inflows
US$1.54 billion; holdings rose 10.7 tonnes to 292.7 tonnes.
India August inflows
US$260.2 million; holdings rose 1.6 tonnes to 121.3 tonnes.
Japan August inflows
US$174.4 million; holdings rose 1.2 tonnes.
Global ETF holdings
4,189 tonnes after increasing by 121 tonnes in August.
Global ETF assets
US$615 billion, up 16% month on month.
Global trading activity
Average daily gold-market trading volume rose 21% to US$430 billion, while gold ETF trading volume rose 83% to US$8.7 billion per day.

Sources

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