The largest gold ETFs listed in the U.S. have attracted about $3 billion of inflows the past month, pushing the amount of bullion in metal-backed products to fresh highs.
Investors are flooding into gold ETFs on fears the latest round of central bank easing will debase global currencies and stoke inflation.
The amount of gold held in bullion-backed exchange traded products stands at about 2,554 metric tons, a new record, according to Bloomberg.
Since the end of August, investors have added $2 billion to SPDR Gold Shares (GLD) , the largest precious metal ETF with assets of $75.6 billion. The fund holds 1,324 tons of gold. It was the third-best-selling ETF during the period, trailing SPDR S&P 500 (SPY) and iShares Russell 2000 (IWM) , according to flow data from Index Universe. [Gold ETFs Eye 2011 High on Central Bank Stimulus]
Gold ETFs were set for a green open Thursday with metal prices hitting their highest level since last November after the European Central Bank kept its main interest rate at 0.75%, Reuters reports.
Separately, the Bank of England also held steady on interest rates, MarketWatch reports.
Gold ETFs could see action Friday after the U.S. nonfarm payrolls report for September.
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