Gold-backed exchange-traded funds (ETFs) recorded their seventh consecutive month of positive flows, adding 104 t in June (equivalent to $5.6-billion or 2.7% of assets under management (AUM)) and taking global holdings to new all-time highs of over 3 621 t. This brings the total global net inflows for the first half of the year to 734 t ($39.5-billion), significantly above the highest level of yearly inflows, both in tonnage terms (646 t in 2019) and dollar value ($23-billion in 2016).
