European exchange-traded funds backed by physical gold attracted a record $7.9 billion in August 2026, increasing their gold holdings by 54.2 tonnes, according to a report by the World Gold Council (WGC). The United Kingdom accounted for the largest share of inflows, at $4.4 billion, marking the country’s second-largest monthly inflow on record. French funds attracted $1.5 billion.
Globally, gold ETFs recorded $18 billion in inflows in August, the second-largest monthly inflow in dollar terms on record, according to the organization. Supported by strong investor inflows and rising gold prices, total assets under management increased by 16% during the month to $615 billion.
Global gold ETF holdings increased by 121 tonnes to an all-time high of 4,189 tonnes. Since the beginning of the year, gold ETFs have attracted $29 billion in net inflows and increased their physical gold holdings by approximately 160 tonnes. The record inflows into European gold ETFs, combined with global holdings reaching an all-time high, suggest that gold demand is broadening beyond central banks and Asian investors toward Western institutional and portfolio investors. This is an important structural signal: if ETF accumulation continues while central-bank buying remains strong, incremental investment demand could tighten the available physical market and provide further support to gold prices.
