Gold among 2020's best-performing assets, says WGC

Gold-backed exchange-traded funds (ETFs) and similar products had what the World Gold Council (WGC) called “a remarkable year” in 2020, as gold ETFs had recorded yearly net inflows of $47.9-billion, or 877 t, collectively increasing gold holdings by over a third and reaching all-time highs in tonnage (3 752 t). While the ultralow interest rate environment drove inflows in January and February 2020, the global spread and severity of the Covid-19 pandemic from March onwards boosted interest in gold, the council states.