Gold-backed ETFs attracted $3 billion in July, reversing two consecutive months of outflows. European funds supplied most of this fresh money with $2 billion, led by the United Kingdom at $875 million and Switzerland at $657 million. Assets under management rose 1% to $530 billion, while total holdings increased by 23 tonnes to 4,068 tonnes. Gold ended a four-month losing streak in July with a gain of approximately 2%, and this rally continued into August with a rise of over 5%.
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