Physically backed gold exchange-traded funds closed October with a record 4,275 metric tons, though the metal's price slide pulled down the combined value of their holdings, World Gold Council figures show.
The funds recorded $2.7 billion in net inflows during the month. By month-end, they held 19 metric tons more than at September's close. European funds led regional inflows.
A decline in gold prices more than offset the value added through inflows: the funds' combined assets under management fell 6% to $542 billion.
The October total followed a 211-metric-ton increase in the third quarter, which brought holdings to 4,256 metric tons at the time. EconoTimes previously covered the funds' return to net inflows in the third quarter.
