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Gold ETFs See Continued Inflows in October, North America Leads Growth

In October 2024, global gold ETFs experienced a sustained inflow of US$4.3 billion, extending a six-month streak of positive demand. North America and Asia led the inflow trends, contributing significantly to the overall growth in assets under management (AUM), which reached a record US$286 billion

Post By : IJ News Service On 08 November 2024 3:37 PM

Global gold ETFs continued their impressive streak of inflows, adding US$4.3 billion in October, bringing total assets under management (AUM) to a record-breaking US$286 billion. North America led the charge, contributing US$2.7 billion in inflows, while Asia also saw strong demand with US$2.1 billion. Despite global economic uncertainties and geopolitical tensions, such as the U.S. election and conflicts in the Middle East, gold’s appeal remains robust. In contrast, Europe experienced outflows of US$563 million, attributed to rising yields and local currency weaknesses.

Asian funds, particularly in China, saw the strongest inflow on record, driven by a soaring local gold price and heightened market volatility. Similarly, Indian gold ETFs continued to see inflows, spurred by attractive gold price momentum and stock market uncertainty. Meanwhile, funds in regions like Australia and South Africa maintained a steady inflow trend, fueled by favorable currency dynamics and local economic conditions.

As 2024 progresses, global gold ETF demand has turned positive for the first time this year, with a net increase of 18 tonnes, signaling growing investor confidence in gold as a safe-haven asset.

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