The latest data from the World Gold Council shows that in August, global gold ETF continued to attract capital inflows, with a net inflow of $18 billion, setting a second-highest record for a single month in history. As funds continued to pour in, the total asset management scale of global gold ETF rose to $615 billion, and the holding volume also exceeded its historical peak for the first time.

North America and Europe contribute the majority of the inflows.

North America and Europe together contributed approximately 90% of the global capital inflows. Among them, Europe recorded its strongest single-month performance ever, while North America saw its third-largest single-month inflow in history, indicating that Western investors have once again increased their allocation to gold assets.

Macroeconomic concerns drive up the demand for hedging.

The World Gold Council pointed out that multiple macroeconomic factors have driven this round of buying. U.S. intervention in the foreign exchange market to support the Japanese yen has raised policy concerns, and the pressure on the U.S. Treasury bond market has also intensified market worries about fiscal sustainability. The expectation of a weaker dollar has similarly increased the attractiveness of gold.

Gold price breaks through a key level

The report also mentioned that after the gold price broke through a key technical level, it further attracted tactical and institutional funds into the market. In August, the global gold ETF holding volume increased by 121 tons to 4,189 tons, setting a new historical record.