Gold ETFs surge by 31.4 tonnes in August - WGC

According to the latest report published by the World Gold Council (WGC) on Monday, and as cited by Reuters, gold Exchange Traded Funds (ETFs) rose by 31.4 tonnes to 2,295 tonnes in August in global holding.

Key Details:

Europe accounted for 79% of the global growth seen in gold ETFs. Europe saw a net increase of 6.4 tonnes over the month. Meanwhile, North America led inflows in August, as investors added 27.8 tonnes of gold ETFs.

Asia funds lost 2.4 tonnes, with most of the gold-backed funds losing assets while derivatives demand increased through gold futures markets in the region.