LONDON – Investors poured a historic $8.7 billion into gold-backed funds during the week ending Wednesday, according to an analysis from Bank of America Global Research, signaling a powerful shift in market sentiment toward the traditional safe-haven asset.
The unprecedented weekly inflow, reported by BofA citing EPFR data, caps a stunning four-month period that has seen $50 billion committed to gold. This recent torrent of investment surpasses the total inflows into the sector over the entire preceding 14 years.
The massive capital movement occurred amid extreme volatility for the precious metal. Gold initially skyrocketed to a new all-time high of $4,381.21 per ounce early in the week, before a sharp pullback as traders capitalized on the rally. The metal was last quoted at $4,092.60.
The data underscores a growing appetite for bullion as a store of value, with the scale of recent investments suggesting a structural change in portfolio allocations rather than a fleeting speculative bet.
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