World Gold Council or WGC stated in a latest update yesterday that global physically backed gold ETFs added US$11 billion (bn) in April, extending their inflow streak to five months. Supported by a higher gold price and continued inflows, global gold ETFs’ total assets under management (AUM) reached another month-end high of US$379bn. Meanwhile, holdings surged 115 tonnes (t) to 3,561t, the highest since August 2022 and yet still 10% below the month-end peak of 3,915t in October 2020.

Asia led inflows, accounting for 65% of the net global total – their strongest month on record. North American demand was also sizable while European flows flipped negative. Other regions continued to experience positive demand, albeit only mildly. North America also saw robust demand for ETFs, while Europe witnessed mild outflows. Global gold trading volumes rose significantly across all markets.

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