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Gold EFTs rise

ByVictoria

The inflow into physically backed gold exchange-traded funds in April was the largest since March, 2022, with China-listed funds leading the move due to the country’s trade war with the U.S., data from the World Gold Council showed on Thursday.

Gold ETFs saw an inflow of 115.3 metric tons worth $11.2 billion last month, the largest amount since March 2022, when global markets were grappling with the immediate consequences of Russia’s invasion of Ukraine.

This move raised Gold ETFs’ total holdings by 3.3% to 3,560.8 tons by the end of April

Source – Reuters

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