Latest figures from the World Gold Council for ETF/ETP Gold...

Latest figures from the World Gold Council for ETF/ETP Gold holdings for Sep 16 are copy and paste below. They indicate investor interest is still good overall although softer in Asia and slowish in Nth America. In particular it is noteworthy that European investors are chasing gold investments, especially the Germans......... and who would blame them considering their state of affairs at the moment? (maybe invest in German safe building companies??? lol haha)

• At the end of September, total holdings in physically-backed gold exchange-traded products stood at 2,335.6t (75.1 moz), representing a 38.1t month-on-month increase. In value terms, total holdings were worth US$99.3bn, 3% higher than at the end of August.

• Once again, flows into North American and European ETPs were positive, with the latter leading the way. European ETPs grew 34.0t to 876.9t (+4%), while holdings in North American ETPs crept up by 6.5t to 1,339.6t (+0.5%). AsianETPs fell by just under a tonne (-0.9t); while Other ETPs declined by 1.5t, primarily due to outflows from NewGold ETF in South Africa.

• In Europe, Xetra-Gold (Germany) saw the largest inflows during the month, swelling by 18.0t to 109.7t (+20%). Gold ETPs in the United Kingdom increased by a total of 9.0t, while those in Switzerland (+3.9t) and Italy (+2.3t) also saw growth in assets under management.

• In North America, SPDR Gold Shares added 4.7t to 948.0t (+1%), while holdings in iShares Gold Trust grew 1.2t to 226.7t (+1%).

• Total holdings in Asian gold ETPs saw a marginal decline of 1% to 70.4t compared to the end of August. Guotai Gold ETF was the only Chinese ETF to see an increase during the month, up 0.4t to 2.4t.

To me the above figures are positive for the POG going forward and a contrary indicator to the recent POG sell off in the CME. This data tends to support my hypothesis posted earlier by me.

Cheers