Mining News

ETFs shed $3bn worth of gold assets in May

The World Gold Council (WGC) reports that outflows of global gold-backed exchange-traded funds (ETFs) have ended their four-month run of positive inflows, with outflows totalling 53 t, or $3.1-billion, in May.

While this was the largest monthly outflow since March 2021, total holdings remain 8% higher in the year-to-date, at 3 823 t, or $226-billion.

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