British funds received the most money – $4.4 billion. This is the second-highest monthly figure in the country’s history. In France, inflows reached a record high of $1.5 billion, according to Investing.
Globally, gold funds attracted $18 billion in August. This is the second-highest figure on record. Over the month, the value of assets under management by these funds rose by 16 per cent to $615 billion.
At the same time, the funds purchased a further 121 tonnes of gold. Their total holdings reached a record 4,189 tonnes.
Since the start of the year, investors have poured $29 billion into gold ETFs and increased their holdings by approximately 160 tonnes.
Why investors are buying gold again
According to WGC experts, many investors have decided to take advantage of the summer price dip to rebuild their previous gold holdings, rather than sell the metal.
In Europe, interest in gold is also being driven by concerns over public finances and high borrowing costs. Against this backdrop, investors are viewing gold as a way to reduce risk in their portfolios.
In North America, gold funds received $7.7 billion – the third-largest monthly inflow in the region. In the five trading days of the week beginning 17 August alone, they received around $4bn.
This result proved particularly significant following a record outflow of $13bn in March. Thanks to the August inflow, the overall performance of North American funds since the start of the year has returned to positive territory.
In Asia, funds attracted $2 billion — the highest figure since February. China accounted for the bulk of this amount: local funds received $1.5 billion. In India, inflows totalled $260 million, whilst in Japan they amounted to $174 million.
Other regions attracted $234 million, of which $190 million came from Australia.
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