Gold ETFs global growth have shown impressive growth in gold holdings for the third month in a row. In July, these funds saw their strongest performance since April 2022. This rise highlights a growing interest in gold investments.
Boost in Gold Holdings
In July,Gold ETFs global growth around the world added 48.5 tons of gold. This increase was seen across all regions, pushing the total assets under management (AUM) to a record $246 billion. The rise in gold prices by 4% helped drive this increase.
Regional Growth
By July 31, global gold-backed ETFs held 3,154 tons of gold, the highest this year. After a year of negative gold flows, May marked the first positive month. Since then, there have been three consecutive months of growth.
Asian Market Trends
In Asia, ETFs added gold for the 17th straight month, increasing holdings by 5.3 tons in July. India led this growth due to a recent cut in gold import tax. Funds in China and Japan also saw inflows, driven by local market conditions. Asia’s gold inflows totaled $3.6 billion this year, reaching a record AUM of $15 billion.
Other Regions
Other regions, like Australia, also saw small gold inflows, just under 1 ton. These inflows contribute to the global gold market, affecting overall demand.
Impact of Gold ETFs
Gold ETFs can influence the global gold market by increasing overall demand. However, owning ETF shares is different from holding physical gold. Investors own shares of the ETF, not the actual metal.
Conclusion
Gold ETFs are experiencing strong growth worldwide, reflecting increased interest and market demand. For the latest gold market updates, visit Daily Gold Signal and check out our daily gold updates.
