Depite a more optimistic mood in the markets, driven by greater resolve on the part of European politicians to deal with the debt crisis, ETFS Physical Gold received inflows of $153m in the week to 13 October.
ETF Securities said in total its gold ETCs had seen inflows of $161m, as rising inflationary pressure in the eurozone lent support to the precious metal.
Safe haven demand played less of a role, since all eurozone countries had ratified the enhancement of the EFSF and a credible plan to write-down Greek bonds and recapitalise bank debt seemed closer than ever.
The company’s silver-tracking products have also seen consistent inflows in recent weeks, demonstrating how it tends to piggy-back on the success of gold.
Last week, BlackRock’s quarterly ETF report showed a general move towards more defensive asset classes and sectors in the third quarter.
European investors favoured German Equity ETPs, while US investors favoured fixed income ETPs.
