Gold ETF rush amid 8.5% price slide: key signals for mining project teams
Global gold ETFs absorbed a record $31 billion of inflows in Q3, adding 67 tonnes to reach 4,256 tonnes of holdings, even as bullion fell 8.5% in September to $4,176/oz and Comex managed-money positions shed the equivalent of 84 tonnes plus 156 tonnes of spreads. U.K.-listed funds led with $7.5 billion and an estimated 54-tonne build in the quarter—around triple their typical Western-flow relationship—overtaking Chinese products as the largest country-level inflow source at $9.5 billion year-to-date. Strong ETF, Indian and Chinese physical demand, and 39 tonnes of central-bank buying in August contrast with futures liquidation as the main price drag.
Global gold ETFs absorbed a record $31 billion of inflows in Q3, adding 67 tonnes to reach 4,256 tonnes of holdings, even as bullion fell 8.5% in September to $4,176/oz and Comex managed-money positions shed the equivalent of 84 tonnes plus 156 tonnes of spreads. U.K.-listed funds led with $7.5 billion and an estimated 54-tonne build in the quarter—around triple their typical Western-flow relationship—overtaking Chinese products as the largest country-level inflow source at $9.5 billion year-to-date. Strong ETF, Indian and Chinese physical demand, and 39 tonnes of central-bank buying in August contrast with futures liquidation as the main price drag.
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