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2026-11-05 21:46:29
The World Gold Council reports that global gold ETFs continued to expand, with net inflows of $2.7 billion in October, primarily driven by European funds. Global gold ETF holdings increased by 19 tons to 4,275 tons; however, due to the decline in gold prices that month, their assets under management (AUM) decreased by 6% to $542 billion. The market downturn following 2011 is not a good comparison to the current 25% drop in gold prices from the January 2026 high. The conditions for a gold price rebound are currently much more robust. Based on our analytical framework, gold prices may be approaching a temporary bottom. Global gold market trading volume declined, mainly due to decreased activity in exchange-traded derivatives. The October price decline was likely driven by asset rotation, reductions in holdings, and a repricing of market expectations regarding the Federal Reserve's interest rate path.
