On: Monday – January 18, 2021
Global net flows from gold-backed ETFs amounted to 877 tons, equivalent to approximately $ 47.9 billion, last year, according to Forbes. The data of the World Gold Council, in a report issued on its official website, indicated that the recorded figure raised the total holdings of global investment funds for trading gold to 3,752 tons until the end of 2020, which confirms that gold has formed a large-scale guarantee and safe haven to counter the rapid increases in prices. Concerns about the impact of the Covid-19 pandemic have led to an increase in interest in gold, especially global investment funds for gold trading. According to the World Gold Council, gold ETFs listed in North America saw an influx of 563 tons in 2020, accounting for about two-thirds of global annual net flows. Relevant funds listed in Europe, Asia and elsewhere increased by 260 tons, 38 tons and 16 tons, respectively. Gold had exceeded $ 2,000 an ounce in early August. The World Gold Council said that investor sentiment about gold dwindled subsequently, but it rebounded again in late 2020 with some believing things were starting to improve. The Board also indicated the possibility of significant fluctuations and declines in the market during 2021, as it is expected that lower global interest rates will lead to continuous increases in stock prices and their valuations.
Al Qabas
