COMEX gold steadies just above $3k mark on Wednesday morning in Asia following a streak of loses in the last one-week. The yellow metal is seen supported by persistent weakness in dollar and trade war worries that is curbing investors risk appetite. The counter currently quotes at $3018 per ounce, up almost 1% on the day. Meanwhile, World Gold Council or WGC stated in a latest update that global gold ETFs saw US$8.6bn (92t) in March inflows, pushing Q1 totals to US$21bn (226t) the second strongest quarter on record. North America and Europe led with 83% of flows, while Asia outperformed relative to its 7% AUM share. Rising gold prices and robust inflows helped drive global AUM to a record US$345bn, up 28% in Q1. It noted that total holdings rose to 3,445t, the highest since May 2023. Global gold trading activity fell in March: despite a m/m decline, LBMA OTC volumes remain well above their 2024 average; COMEX led rising exchange volumes while global gold ETF volumes saw a minor decrease.

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