The global stash of gold in exchange-traded funds has risen to a record after a long run of accumulation that's been given added impetus in recent weeks by the fall-out from the widening coronavirus crisis.

Worldwide holdings in bullion-backed ETFs climbed to 2,573.9 tons on Monday, topping the previous peak set in 2012, according to an initial Bloomberg tally. The latest additions follow four straight years of inflows, and come as prices of the traditional haven trade near the highest level since 2013.

Spot gold fell 0.3% to $1,572.28 an ounce at 6:21 a.m. in London on Tuesday after rising 4.7% last month.

Bullion has also benefited from geoploitical tensions. Last month, Tehran struck a base in Iraq staffed by the U.S. military in retaliation for Washington's killing-by-drone of a senior Iranian general. The flare-up lifted gold above $1,600 on an intraday basis.

Source : Bloomberg