Global Navigator | Oil price rollercoaster loops towards hope

The fourth week of August ended with oil prices falling in response to speculation an existing US-Iran ceasefire will be extended, high-end chip maker Nvidia releasing a stellar earnings report and the Bureau of Economic Analysis delivering mixed inflation data for July. Investors responded by steering another $4.5 billion into Technology Sector Funds and over $7 billion into Physical Gold Funds, boosting flows into Cryptocurrency Funds to their highest level since early 4Q25 and dialing back their commitments to Inflation Protected Bond Funds.

Overall, all Equity Funds absorbed a net $9.2 billion with the bulk of those inflows coming during the final day of the reporting period. Bond Funds took in a collective $17.7 billion, taking their year-to-date total past the $775 billion mark, while Alternative Funds took in $12.8 billion – their highest weekly total since EPFR started tacking them – and Balanced Funds $1.2 billion. Money Market Funds, with US-mandated funds to the fore, posted their fourth inflow over the past five weeks.

The flows into Physical Gold Funds were the biggest since the fourth week of January, extending their inflow streak to eight weeks. US and European domiciled funds almost equally contributed to the headline number this week, with both totals above $2.5 billion. In the case of the latter, that was a record-high inflow. Chinese mainland domiciled Gold Funds also saw strong flows for the fifth time out of the past six weeks.