Gold ETF Inflows Surge to $3B in July as Prices Rebound

Gold exchange-traded funds (ETFs) rebounded in July after two months of outflows, attracting $3 billion globally. This is their strongest monthly intake since April and reverses a recent selling cycle.

The World Gold Council reported that European gold ETFs led the way with $2 billion in inflows, followed by Asia with $616 million. US spot Bitcoin ETFs recorded only $172.4 million in net inflows across 22 sessions.

Gold prices also recovered in July, ending a four-month losing streak with an approximate 2% gain. The rise came after the US jobs report showed a decline of 23,000 jobs in July, reducing near-term Fed rate-hike expectations.