Global Gold ETF Holdings Hit Record 4,189 Tonnes in August, Says WGC

SEATTLE (Scrap Monster): Global investor appetite for gold rose sharply in August, driving gold-backed exchange-traded fund (ETF) holdings to a new record. The ongoing concerns over currencies, government finances and the US dollar provided support to rising demand for precious metals.

According to the World Gold Council (WGC), global gold-backed ETFs attracted $18 billion in August, marking the second-highest monthly inflow ever recorded. The funds listed in North America and Europe witnessed strong buying.

Higher gold prices coupled with fresh investment pushed total ETF assets under management up 16% month-on-month to $615 billion. Collective gold holdings increased by 121 tonnes to a record high of 4,189 tonnes, WGC noted.

North American-listed funds recorded their third-highest monthly inflow of $7.7 billion. European funds witnessed a stronger performance, attracting a record $7.9 billion. The UK accounted for $4.4 billion of European inflows, while France accounted for $1.5 billion.

Asian-listed ETFs added another $2 billion, registering their strongest monthly performance since February. China led regional demand, while India and Japan also reported positive flows. Other regional funds saw a smaller inflow of $234 million during the month, with Australia emerging as the primary contributor.

Year-to-date global gold ETF inflows reached $29 billion, while holdings increased by 160 tonnes, the WGC report added.