Gold funds attracted their largest weekly inflow on record in the week to Wednesday, according to Bank of America Global Research, as investors continue to pour money into the precious metal amid market volatility and geopolitical tensions.
BofA reported $8.7bn flowed into gold funds during the week, bringing total inflows over the past four months to around $50bn — a surge that reflects a powerful shift toward safe-haven assets.
Gold hit an all-time high of $4,381.21 per ounce on Monday, more than 60% higher than at the start of the year, before retreating.
It is currently trading around $4,091.20 per ounce, after a sharp pullback earlier this week.
The record inflows underline the continued appeal of gold as:
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A hedge against inflation
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A buffer against geopolitical risk
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A defensive asset amid uncertainty in equities and bonds
Despite the recent price dip, investor appetite for gold remains exceptionally strong, with analysts suggesting that the metal is likely to stay well-supported so long as interest rate expectations soften and macro risks remain elevated.
