For starters, global gold-backed ETFs and similar products attracted $1.0 billion in net inflows, following the deceleration that started in September. Meanwhile, global assets under management climbed 3.1% from September.

Supporting the sudden surge, gold experienced a positive price performance of 2.3%, which the World Gold Council argued was a key driver of inflows in North American and European funds, closing out the month with inflows of $561 million – an 1.2% increase in AUM, and $678 million – a 1.7% increase in AUM, respectively.

Additionally, U.S. dollar-hedged gold also capitalized on the stronger dollar and risk-off sentiment, advancing 4.3% for the month. Gold and the U.S. dollar have historically exhibited an inverse correlation, but gold investors could use the SPDR Long Dollar Gold Trust (NYSEArca: GLDW) as a way to diminish USD currency risks. GLDW incorporates a currency swap mechanism to effectively gain exposure to gold paid for in foreign currencies, rather than in dollars. Investors can look to GLDW in environment where the dollar is strengthening.

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