Global gold ETFs recorded a net inflow of $18.0 billions in August, the second highest in history, with holdings reaching a record high of 4,189 tons.

(1) Global investors' enthusiasm for allocating gold continues to rise. (2) According to recent data from the World Gold Council, global gold ETF net inflows reached 1.8 billion USD (approximately 120 billion RMB) in August, marking the second-highest monthly inflow in history; holdings increased by 121 tons to 4,189 tons, setting a new record high. (3) Meanwhile, after surging rapidly, gold prices have entered a phase of high-level fluctuation and are currently hovering around 4,300 USD per ounce. (4) The market's focus has also gradually shifted from safe-haven demand to expectations for the Federal Reserve's monetary policy. (5) While gold prices fluctuate at high levels, gold ETFs have seen strong capital inflows. This phenomenon is driven not only by short-term momentum chasing but also reflects rising concerns among global investors about the macroeconomic environment, fiscal conditions, and the monetary credit system. (6) Although gold prices have shown significantly increased volatility in the short term, many industry experts believe the long-term value of allocating gold remains.