Gold ETFs Attract $3 Billion as Western Buyers Return

After two consecutive months of outflows, investors have returned to the global gold market. The latest data from the World Gold Council shows that globally backed gold ETFs attracted $3 billion in July, lifting holdings by 23 metric tons to 4,068 metric tons.

This fresh momentum has injected into the gold price recovery, with spot gold trading around $4,400 per ounce, up about 9% this month but still roughly 21% below its all-time high of nearly $5,600 set in January.

The return of buying interest shows clear regional divergence. Europe was the most aggressive region, with July inflows reaching $2 billion, marking its second-highest monthly inflow this year. Asian funds contributed $616 million in inflows, while North America's recovery has been more sluggish, recording only about $71 million in inflows.

Market experts believe whether North American investors return to the market at scale will be the critical test for the sustainability of this gold rally.