Gold investment demand hits new record in June — WGC

The data keeps providing more evidence of the unprecedented investment demand for gold-backed exchange traded funds (ETFs), according to the latest data from the World Gold Council (WGC).

In a report published Tuesday, the WGC said that gold ETFs saw their seventh straight month of inflows in June with gold holdings rising by 104 tons last month. The inflows have driven gold holdings to new all-time highs of 3,621 tons. The WCG added that assets under management have also rose to their highest level on record.