Gold ETFs Surge $3B in July, Reversing Outflows as Prices Flat

Global gold ETFs saw $3B inflows in July, reversing prior outflows and lifting AUM to $530B. Prices remained flat as positive and negative factors offset each other.

Woofun AI data shows that global gold ETFs attracted $3 billion in inflows during July, reversing two consecutive months of outflows and raising total assets under management to $530 billion. Holdings rose by 23 tonnes to reach 4,068 tonnes. Europe led the recovery with $2 billion in inflows, while Asia contributed $616 million, maintaining its position as the largest year-to-date contributor to global ETF inflows.

The World Gold Council stated that positive momentum factors offset negative risks, keeping gold prices flat for the month. Future price movements depend on real interest rates, the U.S. dollar, growth expectations, Asian investor demand, and central bank responses. Although a second wave of high inflation similar to the late 1970s cannot be ruled out, this alone does not guarantee significant gold price surges. Market liquidity eased, with average daily trading volume falling 3.5% month-on-month to $356 billion.