Gold Reaches Record High as Bitcoin Sees Strong Inflows

The gold market has seen significant growth in August, with global ETFs holding a record 4,189 tons after 18 billion dollars of inflows. This is the second-best month ever recorded by the World Gold Council.

Gold's price rose 13% in August, closing at around 4,563 dollars per ounce. As a result, assets managed by ETFs jumped 16% to reach 615 billion dollars. Europe contributed approximately 7.9 billion dollars, North America added around 7.7 billion, and Asia injected 2 billion.

Meanwhile, Bitcoin also experienced a strong month, with US spot ETFs receiving about 3.52 billion dollars, its best monthly result of the year so far. Despite this, gold remains significantly ahead in size.