Investor holdings in the by Goldessential monitored (pure-play) gold-backed exchange-traded funds (ETF’s) were seen decreasing 4.479 tonnes or 144,009 ounces (-0.27 pct) in the week from January 18th up to January 25th.

Two of the thirteen monitored gold ETF’s announced an inflow over the reported period, whereas three reported redemptions. Eight indicated “no change”.

Additionally, holdings in the Swiss Zuercher Kantonalbank’s (ZKB) Physical Gold ETF were seen rising 8,743 ounces or 0.27 tonnes (+0.18 pct) in the week ending Friday, February 19th.

Focusing on the ETF’s under our standard scope of analysis – hence excluding the infrequently updated ZKB -, we see the largest increase both in absolute numbers as well as percentages in the by ETF Securities marketed ETFS Metal Securities Physical Gold trust (PHAU), where 20,548 ounces or 0.64 tonnes (+0.61 pct) flowed in over the reported interval.

A smaller inflow was seen in the equally by ETF Securities marketed Gold Bullion Securities (GBS), where investors added 1,220 ounces or 0.04 tonnes (+0.03 pct).

Redemptions were however more common, with several significant outflows being witnessed. The Canadian Claymore Gold Bullion ETF was seen losing 52,054 ounces or 1.62 tonnes (-7.45 pct) in the second week it traded as an ETF (the trust had finalized conversion from a closed ended fund into an exchange-traded fund as per February 16th).

The South-African NewGold (Absa) was simultaneously seeing holdings dropping 35,372 ounces or 1.10 tonnes (-2.09 pct), while the world’s largest gold-backed ETF – the SPDR Gold Trust – saw redemptions of 78,351 ounces or 2.44 tonnes (-0.22 pct) of the yellow metal.

All other - non-discussed - monitored gold-ETF’s reported no changes over the given interval.

Jointly, the thirteen monitored funds (excluding (1)) as such dropped 0.27 pct over the reported period, reversing last week’s 0.24 pct’s rise. Total monitored holdings (excluding (1)) were now at 1,625.48 tonnes, 2.23 pct below a record high of 1,662.54 tonnes in the week to December 3rd, 2009. Grand total monitored holdings (including (1)) were at 1,774.31 tonnes, 2.12 pct below a record high of 1,812.77 tonnes in the week to December 3rd, 2009.

On a rolling 4-week basis, the best performance (in percentages) was seen in the Swiss Gold Bullion Securities (SGBS) trust (ETF Securities), at +16.11 pct. On the second place stood the ETFS Metal Securities Physical Gold (PHAU) at +5.94 pct, followed by the Julius Baer Physical Gold ETF (+3.16 pct).

The worst performance over the rolling month was seen in the Canadian Claymore Gold Bullion ETF (-10.22 pct). On the second place stood the Gold Bullion Securities ETF/ETC (ETF Securities), at -3.73 pct. The third place was for the COMEX Ishares Gold Trust (Barclays), at -2.34 pct.

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