Global gold exchange-traded funds recorded an inflow of $18 billion in August, marking the second-highest monthly result in history. This surge pushed total holdings to a record 4,189 tonnes. Assets under management grew by 16% month-over-month, reaching $615 billion, supported by rising gold prices.
European funds led the market with a record $7.9 billion in inflows, including $4.4 billion from the UK and a national record of $1.5 billion from France. North American funds attracted $7.7 billion, effectively offsetting the $13 billion outflow recorded in March. Asian funds added $2 billion, with China remaining the primary driver in the region.
The World Gold Council attributed the growth to US intervention in support of the yen, Treasury debt buyback operations, and positive price momentum. Global year-to-date inflows reached $29 billion, equivalent to 160 tonnes of gold. Trading activity also intensified, with average daily volumes across the gold market rising 21% to $430 billion.
Gold ETF trading volumes saw an 83% increase, reaching $8.7 billion per day, with North American funds accounting for over 73% of this activity. COMEX net long positions grew by 39%, or 212 tonnes, reaching a total of 753 tonnes. Managed money contributed an additional 96 tonnes to the net long position, bringing it to 470 tonnes.
