A gold index fund was the highest selling exchange-traded commodity (ETC) in September, industry data shows, as European investors put a net $6.5 billion into exchange-traded products.
Invesco Gold ETC had €140 million of inflows, in contrast to the net €137 billion of outflows for the fund over the year to date, according to ETFGI figures.
It was at least the second month in a row that a gold product saw relatively strong sales: August saw the Xtrackers Physical Gold Euro Hedged ETC at the top of the sales ranking.
Recently, exchange-traded fund (ETF) providers WisdomTree and ETF Securities, as well as the World Gold Council, predicted a higher gold price.
Among ETFs, equity-based products attracted the largest net inflows during September, with $6.28 billion. This meant the year-to-date figure for net inflows was $34.16 billion, which was less than the $51.93 billion in net inflows at the same point in 2017.
Total assets in ETFs and ETCs domiciled in Europe decreased in September. They were down to $832 billion of assets under management, a slight fall of 0.38% from the $835 billion at the end of August, according to ETFGI.
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