Indian gold ETF inflows continued driven: WGC

First time Asia led global gold ETF demand in October’24 

Recently World Gold Council (WGC) released Gold ETF Commentary, North America inflows go four-for-four! In the October in review report said, Global physically backed gold ETFs extended their inflow streak to six months, adding US$4.3bn during October. 

Continued inflows and the record-shattering gold price lifted global Assets Under Management (AUM) a further 5% to another month-end record of US$286bn. Meanwhile, collective holdings rose 43t to 3,244t. North America once again led global inflows while Europe remained the only region with outflows.

Y-t-d global gold ETF demand – led by Asia – has turned positive (+18t) for the first time this year. And so far in 2024, inflows into global gold ETFs have reached US$4.7bn. Supported by recent inflows and the rocketing gold price, total assets under management (AUM) have soared by 33%. All regions other than Europe have experienced inflows ytd.  

Asian funds attracted US$2.1bn in October, extending the region’s inflow streak to 20 months. China dominated inflows: the record-shattering local gold price and amplified equity market volatility, following a sizable rally in late September fuelled by aggressive stimulus announcements, led to the strongest monthly inflow on record.  

Meanwhile, Indian gold ETF inflows continued, driven by similar factors: attractive gold price momentum, higher stock market volatility, and the lingering positive benefit of adjustments to the long-term capital gains treatment of gold.