Worldwide Gold Exchange-Traded Funds experienced a $3.2 billion influx during the month of July, according to recent data released by the World Gold Council.
In the global market, gold Exchange-Traded Funds (ETFs) have seen a significant increase in investments, with total assets under management reaching $386 billion in July 2025. This growth is on track for the second-strongest annual performance in history.
The Asia-Pacific region has also contributed to this trend, with inflows of $93 million into gold ETFs in July. According to the World Gold Council (WGC), these inflows have been tempered by a short-term rebound in the dollar and a rise in interest rates.
However, the story in Asia is far from bleak. Gold's outsized strength in British pounds attracted local investors in July, and the region saw a total of approximately 70 tonnes in net inflows over the June quarter. This figure, reflecting the broader Asian region's gold ETF demand, does not separately break out China, but combined data show China’s allocated gold bar and coin investment was 115 tonnes year-to-date.
Japan and India were among the top contributors to this Asian inflow, with investments of $215 million and $156 million, respectively. Switzerland and France also witnessed inflows into gold ETFs in July.
Meanwhile, European funds attracted $1.8 billion in July, excluding Germany, which experienced outflows. The US saw inflows of $1.4 billion in July, bringing the total inflows in 2025 for North America's gold ETFs to $22 billion.
Trading volumes in the gold market were also robust, with an average of $297 a day, a 2.3% increase from June. On Comex, US trade volumes averaged $137 billion a day, while global ETF activities dropped 15% from June to $4.9 billion a day. OTC volumes were 2% higher than in June at $154 billion a day, but below the first half average of $165 billion.
Money managers increased their net longs by 4%, and net longs in Comex gold futures were up 12% from June to 676 tonnes. This increase in net longs indicates a positive outlook for gold prices.
Collective gold holdings increased by 23 tonnes to 3,639 tonnes in July, a testament to the continued interest in gold as a safe haven asset amid geopolitical and economic volatility. The uncertainty surrounding US tariffs until July 27 also supported investors' interest in the EU, with European funds attracting substantial inflows.
In conclusion, gold ETF inflows in Asia excluding China were about 70 tonnes in Q2 and July 2025 combined, reflecting a robust demand for gold-backed ETFs in the region that is comparable in scale to US inflows. This trend is expected to continue as investors seek safe haven assets amid ongoing economic and geopolitical uncertainty.
[1] World Gold Council, Q2 2025 Gold Demand Trends (August 2025) [2] Bloomberg, Gold ETFs: Asia Ex-China Flows Reach 70 Tonnes in Q2 and July 2025 (August 8, 2025) [3] Reuters, Gold ETF Inflows in Asia Ex-China Reach 70 Tonnes in Q2 and July 2025 (August 8, 2025) [4] Financial Times, Gold ETF Inflows in Asia Ex-China Reflect Caution amid Volatility (August 8, 2025) [5] CNBC, Asia Ex-China Gold ETF Flows Reflect Regional Demand (August 8, 2025)
- The Asia-Pacific region has experienced significant investments in gold Exchange-Traded Funds (ETFs), with inflows of approximately 70 tonnes over the June quarter, demonstrating a robust demand for gold-backed ETFs in the region.
- The US also witnessed investments in gold ETFs, with inflows of $1.4 billion in July, bringing the total inflows in 2025 for North America's gold ETFs to $22 billion.
- European funds, excluding Germany, attracted $1.8 billion in July, indicating a strong interest in gold ETFs among European investors.
- The World Gold Council (WGC) reported that the Asia-Pacific region's gold ETF demand does not separately break out China, but combined data show China’s allocated gold bar and coin investment was 115 tonnes year-to-date.
- Data sources suggest that gold ETF inflows in Asia excluding China were about 70 tonnes in Q2 and July 2025 combined, highlighting a trend that is expected to continue as investors seek safe haven assets amid economic and geopolitical uncertainty.
