European investors have been selling out of gold ETFs, according to figures from the World Gold Council, with the price of the shiny metal falling back below the $1,300/oz mark during September.
Gold exchange traded products (ETPs) have enjoyed increased inflows over recently weeks, as tensions between the US and North Korea push investors into safer assets.
The attitudes of European and US investors towards gold ETFs have not been this different since 2013, as EMEA-domiciled gold ETPs have attracted positive flows every month so far this year, while US offerings have suffered outflows.
European-listed exchange-traded products (ETPs) have seen another strong month in May, drawing in $11bn in inflows, as investors flocked to European equities after the reassuring result of the French presidential election.
As investors gear up for another possible hike to interest rates in the US, ETF investors have been surprisingly keen for both shorter and longer-term debt.
US investors are dipping their toes back into European and emerging markets and even high-yield bonds as domestic rally slows and post-Brexit trade appeals.