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Informist, Monday, Feb. 9, 2026

MUMBAI – Global gold exchange-traded funds attracted a record $19 billion in January, pushing both their total assets under management and collective holdings to all-time highs, the World Gold Council said in a report. Strong net buying in January, combined with a 14% surge in gold prices, pushed global gold exchange-traded funds assets under management to a new record of $669 billion, up 20% on month. Collective global holdings rose by 120 tonnes to a record 4,145 tonnes, the council added. 

"Even with the recent price decline, all regions except Europe saw net inflows on both 30 January and 2 February, as investors appeared to take advantage of the dip to add exposure to gold," the council said.    

Gold exchange-traded funds recorded inflows across all regions during the month, with North America and Asia leading global demand. North America posted its second-highest monthly inflows on record, and Asia recorded its largest inflows. Europe also saw notable inflows amid heightened geopolitical and trade tensions, while other regions extended their positive momentum for a second month, the council said.

North America added $7 billion in January, the eighth consecutive month of inflows, the council said. Gold prices saw a sharp pullback toward the end of the month after Kevin Warsh was nominated as the next chair of the US Federal Reserve. "Despite the drawdown and heightened volatility, the region still reported net positive flows on the final trading day of the month," the council said.  

During the month, inflows were supported by the price rally and geopolitical tensions involving the US and regions including Iran, Greenland, and parts of Europe, which helped maintain investor interest in gold. While the Federal Reserve left interest rates unchanged and pointed to expanding economic activity alongside a cautious outlook on future policy moves, concerns over central bank's independence persisted.

"Markets remain focused on whether Kevin Warsh – should he be appointed – would align more closely with President Trump's preferences, while the Justice Department's subpoena of Chair Powell adds further uncertainty. This overhang on the future path of monetary policy, combined with investor expectations of eventual rate cuts, continues to support gold ETF demand," the council said. 

European inflows have now persisted for three months in a row, adding $2 billion in January, the council said. Robust gold price gains and intensifying geopolitical and trade tensions between the US and Europe, particularly tariff threats by US President Donald Trump linked to the Greenland dispute, helped sustain demand for gold exchange-traded funds as investors sought safe havens amid growing uncertainty.

Asian funds reported a record $10 billion in January, a pace well above their 2025 average and the fifth consecutive monthly inflow, the council said. The region accounted for 51% of total global net inflows, a notable share given that Asian holdings are roughly one-fifth the size of those in North America. China led regional demand with $6 billion in inflows, making it the second-largest contributor globally, closely behind US.

Meanwhile, India saw sizeable inflows of $2.5 billion, supported by firm gold prices and a shift toward diversification as domestic equity markets underperformed.

"Funds in other regions registered positive flows at the start of 2026, adding US$295mn ($295 million). This marked the region's second consecutive month of inflows, driven primarily by contributions from Australia and supported by incremental inflows from South Africa," the council said.  End

US$1 = INR 90.61

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Reshma Ravi

Edited by Akul Nishant Akhoury

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