Precious Metals   Exchange & Stocks  

Daily ETF gold inflow roughly equals Newcrest annual output

Holdings of gold by exchange-traded funds jumped by a “huge” amount Thursday – 2.6 million ounces, and inflows may well continue, said BMOCapital Markets.

Analysts said the increase occurred as “investment funds started to deploy cash and further central-bank rate cuts emerged. To put this in context, it is roughly equivalent to the annual production of Newcrest Mining. Given where Treasury yields now sit, macroeconomics should favor further trend inflows over the coming months.” Gold ETFs trade like a stock but track the price of gold, with metal put into vaults to back the shares.

News No: 8792
Date: 2020/03/20 - 20:20
News Source:

trade  exchange  gold  BMOCapital Market  ETF 


Leave a Comment:


Market Nuggets RBC's Gero: Comex gold drawing safe-haven bid

Gold is higher on a morning when the market is again drawing safe-haven buyers, said George Gero, managing director with RBC Wealth Management. He pointed out that holdings of the metal by exchange-traded funds have been rising lately.

US start trade investigation towards import of aluminium sheet from 18 countries

The U.S. International Trade Commission (ITC) has started a preliminary anti-dumping investigation in regards to the imports of common alloy aluminium sheet from 18 countries, including Germany, Oman, Bahrain, Serbia, Croatia, Romania, Turkey and Slovenia.

Indian Imported Scrap Trades Pick Up Despite Hike in Offers

Imported scrap trades to India witnessed considerable improvement this week, with decent bookings being witnessed after slow activity in the previous couple of weeks. Offers from global origins continued to rise sharply, however buyer’s inquiries remained active, as mills looked to book some material in anticipation of further price hike.

Commerzbank: ETF holdings of gold rise but fall for platinum

Exchange-traded-fund holdings of platinum have fallen sharply this month, while holdings of gold keep rising, Commerzbank said. After big inflows last week, holdings in gold ETFs tracked by Bloomberg increased by another 16 metric tons Monday, putting them above 90 million ounces or over 2,800 tons for the first time, the bank pointed out.

Xinjiang Amer Qian Golding Cable has ordered a CONTIROD®*copper wire rod plant from SMS group

Xinjiang Amer Qian Golding Cable Co., Ltd. from China, a subsidiary of Amer Group, has placed an order with SMS group for a CONTIROD®* casting and rolling plant to produce copper wire.

Annual non-oil trade at $85b

The value of Iran’s non-oil trade stood at $85 billion in the past Iranian calendar year of 1398 (ended on March 19, 2020), the head of Islamic Republic of Iran Customs Administration (IRICA) announced.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners