Last week, physically backed gold exchange-traded funds (ETFs) recorded the highest weekly inflow since March 2022, as indicated by data from the World Gold Council (WGC) on Monday.
Gold ETFs, which hold bullion for investors, represent a substantial portion of investment demand for the precious metal, which surged to a record high of $2,956.15 per troy ounce on Monday.
During the week, Gold ETFs experienced an influx of 52.4 metric tons valued at $5 billion, marking the largest amount since the initial week of March 2022, when global markets were dealing with the immediate aftermath of Russia's invasion of Ukraine.
This bolstered their total holdings by 1.6% to 3,326.3 tons, the highest level since August 2023.
U.S.-listed funds led the inflow last week with 48.7 tons, in contrast to an outflow of 6.3 tons they experienced in January.