Gold ETFs Flooded with Record $18 Billion in August Amid Economic Uncertainty

Global gold-backed exchange-traded funds (ETFs) attracted an unprecedented $18 billion in investments last August, according to the World Gold Council. This is the second-highest monthly inflow ever recorded by value.

The strong demand was led by North American and European funds, where investors increased their exposure to gold due to economic uncertainty, inflation concerns, and worries over government debt levels.

North American gold ETFs recorded their third-largest monthly inflow at $7.7 billion, while European-listed funds saw their biggest-ever monthly inflow of $7.9 billion.