Physically backed gold exchange-traded funds (ETFs) saw their largest weekly inflow since March 2022 last week, according to data released by the World Gold Council (WGC) on Monday.
Gold ETFs, which store physical bullion for investors, represent a key segment of investment demand for gold, a commodity that recently reached a record high of $2,956.15 per troy ounce on Monday.
The inflows totaled 52.4 metric tons, valued at $5 billion, marking the most significant weekly gain since the first week of March 2022. This surge came at a time when global markets were facing the initial fallout from Russia’s invasion of Ukraine. As a result, total holdings in gold ETFs rose by 1.6% to 3,326.3 tons, the highest level since August 2023.
U.S.-listed funds were the largest contributors to the inflow, accounting for 48.7 tons. This follows a stark contrast to January, when these funds experienced an outflow of 6.3 tons.
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