World Gold Council or WGC stated in a latest update that global physically backed gold ETFs attracted US$5.5billion in August, extending their inflow streak to three months. Similar to July, North American and European funds led global inflows while Asia and other regions saw mild outflows. Nevertheless, the y-t-d inflow of US$47bn reached the second strongest on record after the peak of 2020. WGC noted that August inflows and a further rise in the gold price pushed global gold ETFs' total assets under management (AUM) 5% higher to US$407 billion, setting a new month-end record. Holdings continued to increase, rising 53 tonnes (t) to 3,692t, the highest month-end value since July 2022 and 6% below the record of 3,929t, which was reached the first week of November 2020.

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