Record inflows into global gold-backed ETFs
In August, global gold-backed funds saw a record influx of $18 billion, pushing total assets to $615 billion.
Driven by investors seeking safe havens and rising ounce prices, global gold-backed Exchange Traded Funds recorded an influx of $18 billion in August.
Historic Interest in Global Funds
As a result of developments in global markets, gold prices and gold-backed funds reached unprecedented levels.
According to data shared by the World Gold Council, the $18 billion inflow into funds in August marked the second-strongest monthly cash influx in history.
Strong Demand from Europe and North America
Monthly inflows of $7.9 billion in the European market in August broke an all-time record.
During this period, the United Kingdom experienced $4.4 billion and France $1.5 billion in fund inflows, while the North American market also supported the rally with a $7.7 billion influx.
Asian Market and Reserve Growth
Led by China, the Asian market secured a total fund influx of $2 billion, expanding the assets under management of the funds by 16 percent.
On the physical assets side, total gold reserves climbed by 121 tonnes to reach 4,189 tonnes.