WGC data show January delivered record gold ETF inflows, pushing holdings and AUM to new highs even as dip-buying emerged after a late-month pullback.
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The World Gold Council (an industry-backed lobby group) says global gold ETFs pulled in a record US$19bn in January, taking holdings and AUM to fresh highs.
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WGC puts global gold ETF AUM at US$669bn and holdings at 4,145t after +120t in January.
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North America and Asia led inflows, with Europe also positive as geopolitical and trade risks stayed elevated.
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Trading activity surged, with WGC estimating gold market volumes at a record US$623bn/day through January.
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WGC says dip-buying showed up even as prices pulled back late-month, with most regions still seeing inflows on key late-January/early-February day
Global physically backed gold ETFs attracted a record wave of inflows in January, according to data compiled by the World Gold Council, as investors increased allocations even as prices pulled back late in the month. The WGC, an industry-backed lobby group, said gold ETFs drew US$19bn in net inflows in January, the strongest monthly intake on record.
The January buying coincided with a sharp rise in gold prices earlier in the month, helping push global gold ETF assets under management to a fresh high of US$669bn, up around 20% on the month, while collective holdings rose 120 tonnes to a record 4,145 tonnes, the WGC said. The report also highlighted a surge in trading activity, with gold market volumes ending January at a record US$623bn/day, underlining how active the market has become during periods of fast-moving macro and geopolitical headlines.
Regionally, WGC said North American and Asian investors did the heavy lifting, while Europe also recorded notable inflows as geopolitical and trade tensions kept hedging demand elevated. Importantly for market tone, the WGC said that even after a late-month price decline, inflows largely continued outside Europe on 30 January and 2 February, suggesting some investors used the dip to add exposure rather than de-risk.
For markets, the message is that ETFs remain a powerful transmission channel for investor appetite. Sustained ETF demand can tighten effective supply in the physical market, reinforce bullish momentum and amplify moves when prices are already trending. The risk is that flows can also reverse quickly if real yields rise, the US dollar strengthens, or volatility forces deleveraging — making ETF data a key near-term signal alongside central bank buying and futures positioning.
This article was written by Eamonn Sheridan at investinglive.com.