Yukon Metals identifies priority drill targets at Birch copper-gold project
The 7,000-hectare Birch project is one of the company’s 17 properties across 42,500 hectares in Canada's Yukon Territory.
Physically backed gold exchange-traded funds (ETFs) registered a modest net inflow of $3.4 billion in 2024, their first inflow in four years, even though their holdings fell by 6.8 metric tons, the World Gold Council (WGC) said on Wednesday.
Gold ETFs store bullion for investors and account for a significant amount of investment demand for the precious metal, which hit a record high of $2,790.15 an ounce on Oct. 31 and saw the strongest annual price growth since 2010 in 2024.
“In a year in which the gold price reached new all-time highs 40 times, global investor appetite for gold ETFs finally turned around,” the WGC, industry body grouping global gold miners, said in a research note.
After three consecutive years of outflows against a backdrop of high interest rates, the modest inflow in value terms was led by Asia-listed funds and improved appetite from North American funds as major central banks began their rate easing cycles.
Total assets under management at gold ETFs rose by 26% to $270.5 billion in 2024, while collective holdings fell by 0.2% to 3,218.8 tons.
The WGC estimates that gold trading volumes across global markets rose by 39% to an average of $226.3 billion a day in 2024, the highest on record, with trading in the over-the-counter (OTC) market adding 37%.
(By Polina Devitt; Editing by Barbara Lewis)
Comments
Pieter Bruinstroop
8 Janaury 2025 : Reuters says ETFs net inflow in 2024; 2 January 2025 : Bloomberg says ETFs net outlfow in 2024. At least one will be correct