European gold-back ETFs continued to add yellow metal in June, but globally, total holdings fell for the first time in nearly a year as gold flowed out of North American and Asian funds.
Global gold-backed ETF holdings fell by 49.3 tons to 2,434 tons in June, according to the latest data released by the World Gold Council. It was the first month of net outflows since July 2017.
Even with the sharp June drop, total ETF gold holdings globally remain up on the year by 63 tons.
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North American funds gobbled up gold last month as gold-backed ETFs collectively added 22.5 tons of the yellow metal globally in March.
Overall, gold-backed ETFs increased their holdings to 2,415 tons worth an estimated $102.8 billion, according to data released by the World Gold Council.
