Worldwide Gold Exchange-Traded Funds (ETFs) recorded inflows worth $3.2 billion in July, as indicated by data from the World Gold Council.

Worldwide Gold Exchange-Traded Funds (ETFs) recorded inflows worth $3.2 billion in July, as indicated by data from the World Gold Council.

Gold ETF Investments Remain Popular Amid Global Uncertainty

Gold Exchange-Traded Funds (ETFs) continue to attract significant interest from investors worldwide, with strong inflows recorded in various regions, according to the latest trends in 2025.

Global and Regional Trends

Asia, particularly China and India, has been a significant contributor to increased gold demand, including through ETFs and physical gold (bars and coins). However, in India, while gold ETFs still see positive inflows, these softened in July 2025, reflecting profit-taking at record gold price highs and rotation to equities and debt instruments. In contrast, North American gold ETFs remained strong, accounting for a significant share of total investment demand, with North American gold ETF inflows reaching $21 billion in the first half of 2025. Europe's ETF participation is steady, driven by continued trading volumes and futures activity.

Country-Specific Notes

In India, gold ETFs continue to attract investment but have faced reduced inflows recently in July 2025. China has seen an increase in physical gold buying, supporting overall Asian gold demand growth in 2025. Japan historically sees more modest gold investment via ETFs, mostly as a safe-haven during volatility.

Investment Context and Drivers

Gold prices have surged about 26% in H1 2025, hitting record highs, which typically fuels both profit-taking and continued interest as a hedge against inflation, currency debasement, and geopolitical risks. Central banks globally increased gold reserves significantly, adding 166 tonnes in Q2 2025, reinforcing gold’s status as a strategic asset. Ongoing macroeconomic volatility, including uncertain interest rates and geopolitical tensions, supports continued solid inflows into gold ETFs in most markets.

Key Findings

• Investments into gold ETFs were $156 million in India and $215 million in Japan in July. Global ETFs witnessed inflows of $3.2 billion in gold ETFs in July. Asia had inflows of $93 million into gold ETFs in July, despite an outflow in China.
• The investments in gold ETFs are on track for their second-strongest annual performance. Inflows into gold ETFs in North America were $1.4 billion in July, with total inflows in 2025 for gold ETFs in North America expected to reach $22 billion.
• On Comex, US trade volumes averaged $137 billion a day, while global ETF activities dropped 15% from June to $4.9 billion a day. Net longs in Comex gold futures were up 12% from June to 676 tonnes, and money managers increased their net longs by 4%.
• Trading volumes in the gold market were $297 a day on average, a 2.3% increase from June. OTC volumes were 2% higher than in June at $154 billion a day, but below the first half average of $165 billion.
• The World Gold Council (WGC) attributes the slowing of inflows in July to a short-term rebound in the dollar and a rise in rates. Inflows were witnessed in Switzerland and France in July.
• European funds attracted $1.8 billion in July, except for German funds which saw outflows. The WGC suggests that the trajectory of US-China trade negotiations will likely remain a dominant driver of future market sentiment.

In summary, gold ETFs remain highly attractive investment vehicles globally, with the strongest inflows seen in North America and robust supporting demand in Asia — particularly India and China — despite some recent moderation. Market dynamics in 2025 remain influenced by record gold prices, central bank buying, and macro uncertainty, which collectively sustain investor appetite for gold ETFs across these regions.

1. Despite a softening in July 2025, gold ETFs in India still attract investment, a finding that aligns with the global trend of increased interest in these investment vehicles.
2. North American gold ETFs have proven to be a significant contributor to total investment demand, with inflows reaching $21 billion in the first half of 2025.
3. In contrast to the reduced inflows in India, China has seen an increase in physical gold buying, bolstering overall Asian gold demand growth in 2025.
4. The strong inflows into gold ETFs in North America, robust Asian demand, and continued interest in these investment vehicles despite profit-taking and high gold prices, all point to a second-strongest annual performance for gold ETF investments.
5. The slowing of inflows in July is attributed to a short-term rebound in the dollar and a rise in rates, nevertheless, the World Gold Council expects the trajectory of US-China trade negotiations to remain a dominant driver of future market sentiment, which may further fuel the popularity of gold ETFs.

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