July sees $3B inflow into gold ETFs

Global gold ETFs experienced net inflows of $3 billion in July, following two months of decline, as gold prices rose. Europe, particularly the United Kingdom and Switzerland, led the investment wave with $2.14 billion, while Asia attracted $616 million. The sharp decline in technology and semiconductor stocks prompted investors to turn to gold as a hedge and diversification tool, increasing assets under management to $530 billion and holdings to 4,068 tons.