Mubasher: Holdings in gold-backed exchange-traded funds (ETF) saw their biggest inflows in a year this week, indicating that the precious metal is regaining its safe-haven appeal, the Financial Times (FT) reported.

Total holdings in gold ETFs climbed by 609,000 ounces on Monday, the biggest recorded so far this year.

Inflows into SPDR Gold Trust, the world’s top gold ETF, rose by 2% on Monday, marking the biggest one-day leap since 2016.

“The biggest bullion-backed exchange-traded fund is suddenly getting a lot of love,” Numis analysts was quoted by the FT.

This came as uncertainty persisted in global equity markets, where investors were avoiding riskier assets, and stampeding towards safe-haven bullions.

The purchases have helped keep a rally in gold prices, after hitting a three-month peak at $1,327.9 per ounce.

By 12:33 pm GMT, spot gold fell by 0.28% to $1,321.57 per ounce, while US gold futures ticked down by 0.08% to $1,328.90 per ounce.