Mubasher: Holdings in gold-backed exchange-traded funds (ETFs) worldwide saw their biggest inflows of all time in September, exceeding the levels seen in late 2012.
Total holdings in gold ETFs climbed by a collective amount of 75.2 metric tonnes to 2,808 tonnes last September, the World Gold Council (WGC) said on Thursday.
This came higher than the level of holdings seen during late 2012, when gold prices was close to $1,700 per ounce, 18% higher than the current level.
Global assets under management (AUM) rose to $135 billion during the month.
ETFs listed in North America and Europe account for 52% and 44% of global holdings, respectively, while the remainder came from funds listed in Asia and other regions.
North American ETFs added 62.1 tonnes, worth $3.1 billion, to their holdings last month, to a total of 1,445 tonnes, while in Europe funds held 1,243 tonnes, a month-on-month increase of 7.7 tonnes.
By 1:45 pm GMT, spot gold climbed by 0.89% to $1,506.84 per ounce, while US gold futures rose by 0.56% to $1,512.90 per ounce