After six consecutive months of net outflows totaling 184 tonnes, global gold ETFs turned net buyers in April. SPDR Gold Shares (GLD) added 18 tonnes alone, while iShares Gold Trust (IAU) and Aberdeen Physical Gold ETF (SGOL) saw smaller but meaningful inflows.
European-listed funds remained roughly flat, while Asian funds — particularly those listed in China — continued strong accumulation. The Chinese Gold Association reported that domestic ETF holdings reached 178 tonnes at month-end, up 22% year-to-date.
ETF flows are widely regarded as a proxy for Western institutional sentiment. The April reversal suggests improving conviction among portfolio managers that gold can break above its current range and target USD 3,000 per ounce.