Global ETFs recorded net outflows of $920m last month, while physical holdings declined to 3,236 tonnes. : Gold-backed exchange-traded funds (ETFs) experienced further outflows in November, although the pace of redemptions slowed sharply from the previous month. That’s according to fresh research from the World Gold Council (WGC). Global ETFs endured net outflows of $920 million last month, while physical holdings dropped to 3,236 tonnes. This was down 9 tonnes from October levels. However, assets under management (AUMs) rose 2% month on month to $212.2 billion as bullion prices burst back through the $2,000 per ounce marker.