Inflows in gold ETF’s fell in August following a strong July where investors poured money into the sector as geopolitical tensions in the Ukraine and the Middle East escalated.

Last week gold backed ETF’s experienced outflows of 6.5 tonnes to bring the total amount held in gold ETF’s to 1,726.4 tonnes. Silver ETF’s performed significantly better and added 45.3 tonnes last week to bring the total amount of silver held in silver backed ETF’s to 20,121 tonnes.