business π° Gold ETFs see positive inflows in July
Gold market prices rose above $4,200, with investor interest returning to gold-backed ETFs in July. Global gold ETFs saw holdings increase by 23.5 tonnes, valued at $2.965 billion, driven by European-listed funds. Year-to-date, global gold ETF inflows total US$11bn, representing a 39t increase in holdings. Investors are tactically buying as prices near $4,000/oz are seen as an attractive re-entry point. European demand remained strong, while North America is still in net outflow territory.