China, 6record-high monthly gold ETF 29hundred million1ten million dollars in outflows
The World Gold Council said 8in a report (local time) that in China 6during the month, gold ETFs saw outflows of 29hundred million1ten million dollars. The stock market rally and the strengthening yuan were cited as the background. This figure is a key signal for assessing demand for gold investments and short-term price trends.
The World Gold Council said 8in a report released (local time) that Chinese investors 6during the month withdrew 29hundred million1ten million dollars from gold-tracking exchange-traded funds (ETFs). This figure was the largest monthly outflow ever recorded in the report.
The report also disclosed outflows by individual fund. The Huaan Yifu Gold ETF saw outflows of 11hundred million4ten million dollars, while the Guotai Gold ETF saw 3hundred million5ten210million dollars, and the Yifang Gold Trading Open-Ended Securities Investment Fund saw outflows of 3hundred million3ten420million dollars.
The association cited the stock market's sharp rally and the strengthening yuan as the background to this outflow of funds. The report said that the yuan's strength had somewhat reduced gold's appeal as a safe-haven asset.
The report specifies the period, 6covering the trends over one month and summarizing the situation with a focus on monthly fund movements. The figures presented in the report and the outflows by fund are exactly as stated above.
This report provides an at-a-glance view of fund flows related to gold in the Chinese market. The original report and the association’s announcement are the basis for the scale of the outflows.
Sources: 연합인포맥스
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