Global physical gold ETFs recorded $18 billion in net inflows in August 2026, the second-highest monthly total on record, according to World Gold Council data. Higher gold prices and new investment lifted collective holdings by 121 tonnes to an all-time high of 4,189 tonnes, while assets under management rose 16% month over month to $615 billion. European funds led with $7.9 billion, including $4.4 billion from the UK and a national-record $1.5 billion from France. North American funds attracted $7.7 billion, while Asian funds added $2 billion. Year-to-date global inflows reached $29 billion, or 160 tonnes. Gold-market activity also strengthened, with average daily trading volumes rising 21% to $430 billion and gold ETF trading volumes increasing 83% to $8.7 billion. September data will show whether Western investors maintain August's pace.