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China s gold-backed ETFs holdings add 11.5 tonnes in Q1
Xinhua
01 May 2021, 14:18 GMT+10
BEIJING, May 1 (Xinhua) Holdings of gold-backed exchange-traded funds (ETFs) in China added 11.5 tonnes in the first quarter of 2021, data from the China Gold Association (CGA) showed. By the end of March, total holdings of gold ETFs in the Chinese market rose to a record of 72.4 tonnes, fueled by stock market volatility and lower gold price in domestic market. Gold is widely viewed as insurance against accelerating price rises. Since the beginning of 2020, concerns over the impact of the COVID-19 pandemic have boosted interest in the yellow metal, most notably gold ETFs.
2021-05-01 03:50:46 GMT2021-05-01 11:50:46(Beijing Time) Xinhua English
BEIJING, May 1 (Xinhua) Holdings of gold-backed exchange-traded funds (ETFs) in China added 11.5 tonnes in the first quarter of 2021, data from the China Gold Association (CGA) showed.
By the end of March, total holdings of gold ETFs in the Chinese market rose to a record of 72.4 tonnes, fueled by stock market volatility and lower gold price in domestic market.
Gold is widely viewed as insurance against accelerating price rises. Since the beginning of 2020, concerns over the impact of the COVID-19 pandemic have boosted interest in the yellow metal, most notably gold ETFs.