The World Gold Council said that European gold ETFs continued to contribute to major global capital inflows in August, with purchases reaching 7.9 billion US dollars in that month, setting the highest monthly record in regional history. In addition to the many factors supporting North American gold demand, European investors also continue to worry about fiscal sustainability and the high cost of sovereign financing. In this context, the value of gold as a portfolio diversification tool and replacement asset for sovereign debt is still an important driver of demand. Buying continued to strengthen after the rebound in gold prices in July, which also shows that investors increasingly believe that the summer gold price pullback is an opportunity to rebuild strategic positions rather than a window to reduce their holdings. The UK is still the main source of capital inflows to Europe, making it the second-largest monthly net inflow in its history. France's capital inflow of 1.5 billion US dollars in the same month reached a record high, further reflecting the broad allocation needs of investors across Europe.

The World Gold Council said that European gold ETFs continued to contribute to major global capital inflows in August, with purchases reaching 7.9 billion US dollars in that month, setting the highest monthly record in regional history. In addition to the many factors supporting North American gold demand, European investors also continue to worry about fiscal sustainability and the high cost of sovereign financing. In this context, the value of gold as a portfolio diversification tool and replacement asset for sovereign debt is still an important driver of demand. Buying continued to strengthen after the rebound in gold prices in July, which also shows that investors increasingly believe that the summer gold price pullback is an opportunity to rebuild strategic positions rather than a window to reduce their holdings. The UK is still the main source of capital inflows to Europe, making it the second-largest monthly net inflow in its history. France's capital inflow of 1.5 billion US dollars in the same month reached a record high, further reflecting the broad allocation needs of investors across Europe.