March sees 10 worst inflows due to investment holding cuts in gold

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World Gold Council data showed that global gold investment funds have reduced their holdings.

This was during last March by 2.9 percent, or the equivalent of 107.4 tons on a monthly basis, and in one of the 10 worst outflows in history.

The council said in its monthly report on Thursday that total fund holdings decreased over the past month to 3,573.6 tons.

That is an estimated value of $ 194.5 billion down from 3,681 tons, equivalent to $ 207 billion at the end of February 2021.

According to the report, the outflows were driven by sales of North American funds by 68.5 tons, equivalent to $ 3.8 billion.

European funds recorded outflows of 45.3 tons, valued at $ 2.5 billion.

Funds elsewhere also saw a slight outflow of 0.9 tons.