Gold ETFs Record Inflows in July After Two-Month Outflow Streak

Global gold ETFs added 23.5 tonnes worth $2.965 billion in July, with European funds leading the rebound after two months of outflows. Year-to-date inflows reached $11 billion or 39 tonnes, as Asian products remained the top contributor followed by Europe, while North America stayed in net outflow territory. WGC analysts noted investors took tactical advantage of prices near $4,000/oz for portfolio diversification. North American holdings rose modestly by 0.3 tonnes ($71 million), whereas European ETFs gained 17.3 tonnes ($2 billion), led by the UK ($875 million) and Switzerland ($657 million). Asian-listed funds added 4.8 tonnes ($616 million), driven by stronger safe-haven buying in China amid weak equities. Gold ended its four-month losing streak with a 2% gain, though Japanese products saw continued outflows due to rising local yields.