Gold ETFs Attract $3.7 Billion in July, Highest Inflows Since 2022
14.08.2024 21:45 1 min. read Kosta Gushterov
In July, global gold exchange-traded funds (ETFs) saw their largest inflows since April 2022, according to a report by Ernest Hoffman for Kitco News.
Data from the World Gold Council (WGC) revealed that gold-backed ETFs attracted $3.7 billion in new investment, marking the third consecutive month of positive inflows.
North American gold ETFs saw inflows of $2 billion, reversing earlier outflows due to safe-haven demand amid political uncertainty and expected monetary easing by the U.S. Federal Reserve. However, year-to-date, North American ETFs have seen outflows of $2.9 billion.
European funds added $1.2 billion, driven by declining bond yields and expectations of further monetary easing by the European Central Bank and the Bank of England, bringing European ETF assets to $103 billion.
Asian gold ETFs, led by India, continued their streak of inflows with $3.6 billion in 2024, bringing total assets to a record $15 billion.
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