Global physical gold-backed ETFs see 27.1 tonnes inflow, marking 11th straight week of gains

Gold ETFs just strung together their eleventh consecutive week of positive inflows, absorbing 27.1 tonnes of physical gold worth roughly $3.9B. Total global gold ETF holdings have now reached an all-time high of 4,189 tonnes, with assets under management climbing to $615B. The numbers behind the streak August was the month that really set the tone. Global gold ETFs pulled in $18B during that stretch, the second-largest monthly inflow on record, adding 121 tonnes to total holdings. September has carried that momentum forward. The World Gold Council reported $4.24B in inflows during a single week earlier in the month, part of what was then nine consecutive weeks of gains. That run has now extended to eleven. The biggest beneficiaries have been the usual heavyweights. SPDR Gold Shares, the largest physically backed gold ETF trading in the US under the ticker GLD, and iShares Physical Gold ETC, a major vehicle for European investors, have led the charge. North America and Europe have been the primary regions driving demand. To put 4,189 tonnes in perspective, that’s roughly equivalent to the entire official gold reserves of Germany and Italy combined. Why investors keep buying Gold ETF...