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2026-07-18 09:10:12
[Gold ETF Holdings Remain Stable at 461 Tons, Silver ETF Discount Widens Slightly] ⑴ As of July 17, the world's largest gold ETF held 461.36 tons, corresponding to net assets of approximately US$59.26 billion, with 788.65 million units. The closing price on July 16 was US$74.80, representing a discount of 0.40% that day. ⑵ Silver ETFs held 15,061.32 tons, corresponding to net assets of approximately US$26.77 billion, with 535.5 million units. The closing price on July 16 was US$50.39, representing a discount of 1.39%, a more significant discount than the gold ETF. ⑶ From a trading psychology perspective, the recent escalation of the US-Iran conflict has driven safe-haven demand for precious metals. However, gold ETFs maintained a slight discount, while silver ETFs traded at a discount exceeding 1%, suggesting that short-term physical buying was not enthusiastic about premiums. The market is maintaining a cautious balance between safe-haven sentiment and the pressure from dollar interest rates. (4) The gold benchmark is the London Gold Afternoon Fixing price, and the silver benchmark is the London Silver Fixing price. Neither fund distributes profits; investors participate in precious metal price fluctuations through share allocations. If the geopolitical situation deteriorates further, a narrowing of the discount or a shift to a premium could become a window into a change in sentiment.
