World Gold Council reports $604 billion gold ETF assets as May outflows hit $2 billion

The World Gold Council said gold‑backed exchange‑traded funds held $604 billion in assets in May, about 2 % less than the $615 billion recorded in April. Global gold‑ETF outflows totaled $2 billion that month, led by $1.3 billion withdrawn in Asian markets and significant withdrawals in North America. The United States and China each saw roughly $1.1 billion of outflows, together exceeding the total monthly net outflow. Europe was the only region with net inflows, recording a modest $300 million gain.

At the same time, technology‑focused ETFs attracted about $15 billion of new capital, dwarfing the $2 billion outflow from gold ETFs. Gold market liquidity remained strong, with daily trading volume rising 3 % to $424 billion in May, about 15 % above the 2025 daily average. Analysts noted that gold futures fell below the spot price, weakening the metal’s safe‑haven appeal and prompting investors to shift toward riskier assets.