Gold ETFs Attract $3 Billion in July, Largest Inflow Since April
Global physical gold-backed ETFs saw $3.0 billion in net inflows in July, reversing sharp outflows from the prior two months, as holdings climbed toward record highs.
Global physically-backed gold ETFs pulled in $3.0 billion in July, the biggest monthly net inflow since April, according to fresh industry data. The intake lifted total holdings by 23 tonnes to 4,068 tonnes, just shy of the all-time high of 4,176 tonnes touched on February 27.
European funds dominated with $2.1 billion of the inflows, followed by Asia at $600 million and North America at $71 million. The strong month follows outflows of $2 billion in May and $9 billion in June.
Year-to-date, gold ETFs have now taken in $11.0 billion, signaling a rapid recovery in demand for the metal.
Source: The Kobeissi Letter