Gold ETFs drew largest weekly inflow since March 2022, says WGC

Bodily backed gold exchange-traded funds (ETFs) registered the biggest weekly inflow since March 2022 final week, knowledge by the World Gold Council (WGC) confirmed on Monday.

Gold ETFs retailer bullion for buyers and account for a big quantity of funding demand for the dear metallic , which hit a document excessive of $2,956.15 per troy ounce on Monday.

Gold ETFs noticed an influx of 52.4 metric tons value $5 billion final week, the biggest quantity because the first week of March 2022, when international markets had been grappling with instant penalties of Russia’s invasion of Ukraine.

This raised their whole holdings by 1.6% to three,326.3 tons, the biggest since August, 2023.

The U.S.-listed funds led the influx final week with 48.7 tons. For comparability, in January they noticed an outflow of 6.3 tons.