World Gold Council: Gold ETFs attracted $5.5 billion in August, with Asian outflows unable to stop European and American buying
2025/09/04 21:32
PANews reported on September 4th that the World Gold Council reported that, driven by a strong rebound at the end of August, gold prices hit $3,429 per ounce, a 4% monthly increase. As of the end of August, gold's year-to-date gain had reached 31%. Despite a significant weakening of the US dollar, gold prices rose in all major currencies. This positive momentum continued into early September. The main factors behind the August gold price increase included a weaker US dollar at the beginning of the month, ongoing geopolitical tensions, and continued inflows into global gold-backed exchange-traded funds (ETFs). The increasing probability of a September interest rate cut by the Federal Reserve also supported gold prices. Gold-backed ETFs saw net inflows of $5.5 billion for the month, primarily from North America ($4.1 billion) and Europe ($1.9 billion), while Asia and other regions saw outflows.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights
You May Also Like
Crypto Casino Luck.io Pays Influencers Up to $500K Monthly – But Why?
Crypto casino Luck.io is reportedly paying influencers six figures a month to promote its services, a June 18 X post from popular crypto trader Jordan Fish, aka Cobie, shows. Crypto Influencers Reportedly Earning Six Figures Monthly According to a screenshot of messages between Cobie and an unidentified source embedded in the Wednesday post, the anonymous messenger confirmed that the crypto company pays influencers “around” $500,000 per month to promote the casino. They’re paying extremely well (6 fig per month) pic.twitter.com/AKRVKU9vp4 — Cobie (@cobie) June 18, 2025 However, not everyone was as convinced of the number’s accuracy. “That’s only for Faze Banks probably,” one user replied. “Other influencers are getting $20-40k per month. So, same as other online crypto casinos.” Cobie pushed back on the user’s claims by identifying the messenger as “a crypto person,” going on to state that he knew of “4 other crypto people” earning “above 200k” from Luck.io. Drake’s Massive Stake.com Deal Cobie’s post comes amid growing speculation over celebrity and influencer collaborations with crypto casinos globally. Aubrey Graham, better known as Toronto-based rapper Drake, is reported to make nearly $100 million every year from his partnership with cryptocurrency casino Stake.com. As part of his deal with the Curaçao-based digital casino, the “Nokia” rapper occasionally hosts live-stream gambling sessions for his more than 140 million Instagram followers. Founded by entrepreneurs Ed Craven and Bijan Therani in 2017, the organization allegedly raked in $2.6 billion in 2022. Stake.com has even solidified key partnerships with Alfa Romeo’s F1 team and Liverpool-based Everton Football Club. However, concerns remain over crypto casinos’ legality as a whole , given their massive accessibility and reach online. Earlier this year, Stake was slapped with litigation out of Illinois for supposedly running an illegal online casino stateside while causing “severe harm to vulnerable populations.” “Stake floods social media platforms with slick ads, influencer videos, and flashy visuals, making its games seem safe, fun, and harmless,” the lawsuit claims. “By masking its real-money gambling platform as just another “social casino,” Stake creates exactly the kind of dangerous environment that Illinois gambling laws were designed to stop.”
Share
CryptoNews2025/06/19 04:53
Share
Coinbase taps Circle’s USDC for its new stablecoin payment solution
The next era of commerce may be settled in stablecoins. Coinbase Payments, now live on Shopify, delivers a plug-and-play stack that enables platforms to offer global, instant USDC transactions with minimal friction. In an announcement on June 18, Coinbase unveiled…
Share
Crypto.news2025/06/19 03:34
Share
Ethereum Codex Integration Boosts Stablecoin Efficiency
The post Ethereum Codex Integration Boosts Stablecoin Efficiency appeared on BitcoinEthereumNews.com. Key Points: Vitalik Buterin highlights Codex’s role in Ethereum L2 integration. Stablecoin efficiency could drive mainstream crypto use. Market anticipates heightened usage of Ethereum and stablecoins. Ethereum co-founder Vitalik Buterin spotlighted low-cost stablecoin transactions as key for crypto value, applauding Codex’s integration into Ethereum’s L2 ecosystem via his statements on Twitter. Codex’s entry into Ethereum L2 enhances stablecoin efficiency, impacting market dynamics and boosting Ethereum usage amidst increased transaction volumes on Codex, supporting DeFi growth. Codex and Ethereum: Catalyzing Crypto Adoption Vitalik Buterin acknowledged Codex’s integration into the Ethereum L2 ecosystem, highlighting its value in synergizing with Layer 1 since inception. The integration reflects a strategic enhancement of Ethereum’s scaling capabilities. Codex, focusing on low-cost, composable stablecoin transactions, further solidifies these enhancements. Stablecoin efficiency is pivotal in mainstream adoption, with its integration into Ethereum’s L2 potentially leading to significant transaction cost reductions. Such developments are crucial for fostering broader crypto market utilization by both businesses and individual users. Key figures, including Arthur Hayes, endorse Codex, seeing low-cost stablecoin transactions as transformative for dollarized DeFi infrastructures. This reaction aligns with Raoul Pal’s view on L2 efficiencies as facilitators of mainstream business engagement. Codex Integration Echoes Market and Expert Predictions Did you know? Integration of Codex in Ethereum’s L2 reflects trends seen with Polygon’s zkEVM and StarkNet, highlighting consistent stablecoin transaction growth post-announcements. Ethereum (ETH) currently trades at $4,271.46, with a market cap of formatNumber(515587256926, 2) billion. Recent 24-hour data indicates a trading volume decline of -59.23%, and ETH experienced a weekly decrease of -1.65%, as per CoinMarketCap. Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 21:39 UTC on September 6, 2025. Source: CoinMarketCap According to Coincu research experts, Codex’s integration could stimulate further Ethereum adoption and spur L2 innovation. Regulatory frameworks targeting low-cost stablecoin transactions may legitimize and expand crypto’s financial landscape.…
Share
BitcoinEthereumNews2025/09/07 05:45
Share