Investors are flooding into gold ETFs following the latest easing measures from the Federal Reserve and other central banks. Investors are using the precious metal funds to protect themselves from currency debasement and the next potential outbreak in Europe’s debt crisis.

The largest precious metal ETF, SPDR Gold Shares (NYSEArca: GLD), has raked in $3 billion since the end of August.

About 191 metric tons of gold have flowed into related ETFs since the end of July, and buying in gold exchange traded products totaled nearly $8 billion in the third quarter, the highest quarterly inflow in over two years, MarketWatch reports.

Currently, assets under management at gold ETPs stand at an all-time high of $151 billion, according to the story.

Commerzbank said the surge in ETF assets reflects “ultra-loose monetary policy” coming from central banks that is “fueling fears of reduced purchasing power as a result of inflation and currency devaluation.”

GLD, the gold ETF, is up 12.3% the past three months.

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