Baku:Global physically backed gold exchange-traded funds (ETFs) attracted $10 billion in inflows during September. This information was detailed in a report published by the World Gold Council on October 7.

According to Azeri-Press news agency, Inflows were observed across all regions, with the most substantial increases in funds listed in Europe and North America. As a result, global gold ETFs saw a record $31 billion in total inflows for the third quarter.

Despite a decline in gold prices, the physical gold holdings of these funds increased by 67 tonnes in September, reaching a record 4,256 tonnes. However, the total value of assets under management by gold ETFs fell by 7% month-on-month to $574 billion.

Throughout the third quarter, the value of assets held by global gold ETFs rose by 9%, with their total gold holdings increasing by 211 tonnes. The largest inflows during this period were recorded in funds listed in the United States, while funds in the United Kingdom hit their highest quarterly level ever.

The report emphasized that gold ETFs and similar products are a significant part of the gold market, used by both institutional and individual investors for various investment strategies.