May 9, 2018 / 7:33 PM / 2 months ago

CORRECTED-N. American gold ETF inflows at highest since September 2017 -WGC

(Corrects headline and first paragraph September 2017, not February 2017)

NEW YORK, May 9 (Reuters) - North American gold-backed exchange traded funds saw inflows in April at the highest since September 2017, as a U.S.-China trade war stand-off, tensions over Syria and worries over possible U.S. sanctions on Russia ushered in safe-haven purchases.

This happened amid a strong U.S. dollar and expectations for the U.S. Federal Reserve to increase interest rates, which makes dollar-priced gold a less attractive investment since it does not draw interest.

North American gold-backed ETFs rose 43.7 tonnes worth $1.9 billion in April, a 3.4 percent increase from the month prior, the World Gold Council said on Wednesday.

European gold-backed ETF holdings increased by 27.1 tonnes worth $1.2 billion during the same period, after two consecutive months of outflows.

View April 2018 gold-backed ETF flows: tmsnrt.rs/2jM8ewa

Reporting by Renita D. Young Editing by Alistair Bell

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below