Reported about 1 month ago
Global physically backed gold exchange-traded funds (ETFs) recorded a fourth consecutive month of inflows in August, driven primarily by North American and European listings, according to the World Gold Council (WGC). Despite three years of outflows caused by high global interest rates, August saw an inflow of 28.5 tons, totaling $2.1 billion, contributing to a collective holding of 3,182 tons. This uptick coincided with a significant rise in gold prices amid speculation about upcoming U.S. interest rate cuts.
Source: YAHOO