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Gold Continues to Flow into ETFs with European Funds Leading the Way

schiffgold.com / BY SCHIFFGOLD /  

After surging in August and September, inflows of gold into gold-backed ETFs flattened, but remained in positive territory in October.

Global gold-backed ETF funds added 3.3 tons of gold last month, as inflows into European funds offset outflows in North America. according to the latest report by the World Gold Council

ETFs in Europe took in a healthy amount of gold in October, as investors added 11.2 tons with a value of around $523 million through funds listed in the region. There were outflows in North America of -8.0 tons, reversing some of its September gains. Meanwhile, Asian funds were flat, gaining 0.8 tons. ETFs in other regions lost -0.7 tons.

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