Record Inflows
WGC says global gold ETF holdings near peak on record monthly, quarterly inflows
This story was originally published at 16:02 IST on 8 October 2025
Register to read our real-time news.Informist, Wednesday, Oct. 8, 2025
NEW DELHI – Global gold exchange-traded funds recorded the largest monthly inflows in September at $17.3 billion and the highest quarterly inflows in Jul-Sept at $26.0 billion, the World Gold Council said in a report. Most of the inflows came from investors in North America as gold purchases rose amid a weak dollar and increased safe-haven demand due to geopolitical uncertainties, the council added.
During Jul-Sept, the total assets under management of global gold ETFs rose to an all-time high of $472.5 billion, up 23% on quarter. "Holdings rose 6% q/q (quarter on quarter) to 3,838 tonnes, only 2% shy of the peak of 3,929 tonnes recorded in the first week of November 2020," WGC said.
During the quarter, North American funds dominated with $16.1 billion, marking the largest inflow for any third quarter and the second biggest quarter ever. In September alone, funds in the region added $10.6 billion, marking their fourth consecutive month of inflows.
The council attributed the momentum to continuing trade and geopolitical uncertainties, expectations of lower yields following a 25 basis-point rate cut by the US Federal Reserve, and a persistently weak dollar pressured by the government shutdown in the US. "However, the dollar looks oversold technically and positionally, risking a short squeeze," WGC said.
The council added that while US equities continued to hit new highs, investors appeared to be positioning for a potential pullback by adding gold as a hedge against volatility. "With the gold price repeatedly breaking records, investor interest rose," WGC said.
In Europe also, gold ETFs saw sustained buying, with $8.2 billion in quarterly inflows, the second-largest quarter for the region. In September alone, the region recorded the third-strongest monthly inflows at $4.4 billion, with the UK, Switzerland, and Germany continuing in the lead.
The council said inflation pressures and monetary policy uncertainty boosted investor demand for gold. "Flows reflected both protection and momentum as investors sought a purchasing-power hedge and leaned into the breakout," it said.
Asia recorded inflows of $2.1 billion in September. India led the region with $902 million, followed by China at $622 million, and Japan at $415 million. "We attribute this to favorable local currency dynamics and increased investment demand as investors look for safe havens amid weaker domestic equities and persistent geopolitical and trade risk," it said. Indian gold ETFs witnessed an inflow of 7.3 tonnes in September, taking their total holding to 77.3 tonnes.
Gold holdings with SPDR Gold Shares, the world's largest gold-backed ETF, rose 35.2 tonnes to 1,012.6 tonnes in September. The second-largest gold-backed ETF, iShares Gold Trust, saw an inflow of 24.7 tonnes, with its holdings at 481 tonnes. In India, Nippon India ETF Gold BeES saw an inflow of 2.2 tonnes, or $268.6 million, in September. The fund was ranked 10th globally in terms of fund inflows.
Meanwhile, the daily average trading volume across all gold markets rose 34% on month to $388 billion per day in September. Exchange-based volumes climbed 66% to $188 billion a day, driven by heavy activity at COMEX and the Shanghai Futures Exchange. Amid increased trading activities, gold prices surged and hit 13 new all-time highs during the month, the council said.
The total net long position on COMEX rose 23% in September to 806 tonnes, driven by strong money manager net long positions. At 1431 IST, the December contract of gold on COMEX was at $4,057.2 per ounce, up 1.3% from Tuesday's close. End
US$1 = INR 88.79
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Afra Abubacker
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
