US Gold ETFs Hit Record-Low Market Share as Asia Expands on Falling Price - BullionVault

AI desk brief

Gold fell for a sixth straight week as US speculative and ETF demand weakened, with Managed Money’s net long in Comex gold futures/options down by nearly a quarter over six weeks to a notional 357 tonnes, 20% below its 5-year average. The move has coincided with record-low US ETF share of global gold ETF holdings at 49.6%, down from 51.9% at the start of the year, even as global gold ETFs added 80 tonnes overall.

WGC data show US-listed ETFs accounted for just 38.1% of recent global gold ETF growth and 29.8% of the 402-tonne increase over the last 12 months, lagging Asia’s 48.5% share. The article argues the next catalyst for stronger institutional buying could be a bond-market move that pushes yields lower, with MKS PAMP’s Nicky Shiels saying US institutions still are not participating meaningfully.