Gold ETFs Just Had Their Second-Biggest Month Ever With $18 Billion Inflow

Global gold exchange-traded funds (ETFs) pulled in $18 billion in August, the second-largest month-to-month influx on document, lifting collective holdings to an all-time high of 4,189 tonnes.

The World Gold Council printed the figures this week. Total belongings beneath administration (AUM) rose 16% month over month to $615 billion, helped by a better gold value.

Western Buyers Return to Gold in Force

European funds drove the month with $7.9 billion of shopping for, their strongest on document, based on Council information. The UK provided $4.4 billion of that complete, its second-largest month ever. France added $1.5 billion, a nationwide document.

North American funds attracted $7.7 billion. This marked their third-largest month-to-month haul. Demand stayed muted early on earlier than accelerating through the week of August 17, when funds absorbed roughly $4 billion in 5 buying and selling days. This came around the same time as the Treasury expanded its debt buyback.

That burst mattered for the annual image. It offset the area’s document $13 billion outflow in March and pushed North American flows again into optimistic territory for the yr.

Asian funds added $2 billion, their finest month since February. China again led the region, the place stabilising native costs drew traders again. The nation’s central bank has extended its own shopping for streak.

Global ETF flows had already turned higher in July. Year to this point, world inflows complete $29 billion, or 160 tonnes.

The Council tied the surge in inflows to 3 probably drivers. It cited US intervention to support the yen on July 31, the Treasury’s August 19 buyback transfer, and value momentum after gold cleared key technical ranges.

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Traders Pile Back Into the Metal

Activity throughout the broader gold market rebounded. Average each day buying and selling volumes climbed 21% month over month to $430 billion, with positive factors in each main section.

Gold ETF buying and selling volumes jumped 83% to $8.7 billion per day. North American-listed funds accounted for greater than 73% of that exercise.

Positioning adopted. COMEX web lengthy positions rose 39%, or 212 tonnes, to 753 tonnes. Managed cash added 96 tonnes, taking its web longs to 470 tonnes.

Now, September information will present whether or not Western patrons maintain including at August’s tempo.

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