Gold ETF demand turns positive for year-to-date, says WGC

From Reuters

Global physically-backed gold exchange-traded funds (ETFs) saw inflows for the sixth straight month in October, with year-to-date flows turning positive for the first time this year, the World Gold Council (WGC) said on Thursday.

Demand was supported by North American and Asian flows, the WGC added.

As geopolitical tensions rise and market uncertainties persist, investors have flocked to gold ETFs, which act as vaults of wealth, holding gold on behalf of investors and driving substantial demand for the precious metal.