Gold ETF Inflows Hit Five-Year High on Safe-Haven Demand

Gold ETFs drew $38 billion in net inflows during the first half of 2025, the largest five-year inflow, lifting collective holdings by 397.1 metric tons, according to World Gold Council data. The surge reflects investor demand for safe assets amid geopolitical tension and declining real interest rates—the spread between yields and inflation. Elevated uncertainty has historically pushed capital into gold when other assets feel riskier.