Gold Demand Makes Big Comeback with Record Monthly Inflows

Global gold demand is rapidly recovering after a weak stretch in the middle of the year. Physical gold-backed ETFs posted $3.0 billion in net inflows during July, the largest monthly intake since April.

This influx added 23 tonnes to global ETF holdings, bringing the total to 4,068 tonnes, just shy of the all-time high of 4,176 tonnes set on February 27.

The rebound is particularly notable after May and June produced $2 billion and $9 billion in outflows, respectively. Year-to-date, global gold ETFs have now attracted $11.0 billion in inflows, confirming that the metal is once again attracting capital after months of selling pressure.