Hi, user_no_name

Trade now

Deposit

Logout
Login Sign Up
EN

Language

English English (Global)

English English (EU)

English English (UK)

English English (AU)

English English (ZA)

English English (St. Vincent)

Deutsch German

Español Spanish (Latam)

Español Spanish (Spain)

Français French

Dansk Danish

Italiano Italian

Nederlands Dutch

العربية Arabic

Svenka Swedish

Tiếng việt Vietnamese

Bahasa Melayu Malay

ภาษาไทย Thai

繁體中文 Traditional Chinese

简体中文 Simplified Chinese

Tagalog Tagalog

தமிழ் Tamil

हिन्दी Hindi

Português Portuguese

Bahasa Indonesia Indonesian

한국어 Korean

English English (BVI)
Markets

Products

Forex

Shares

Commodities

Indices

Crypto

ETFs

Bonds
Trading

Trading Platforms

Web Platform

App

MT4

MT5

Trading Central

Trading Tools

CFD Trading Calculator

Forex Margin Calculator

Commodities Profit Calculator

Forex Profit Calculator

Economic Calendar

Quotes

Forex Heatmap

Trading Info

CFD Trading

CFD Asset List

Trading Conditions

Trading Hours

Expiration Dates

Upcoming Trading Holidays

Weekly Expiration Rollover

Trading Features

Depth of Market
Learn

Learn to Trade

Glossary

Education Centre

Trading Basics

Video library

News & Analysis

news

Academy

Trader's clinic

Webinars

US Nonfarm Payrolls
Promo

Reward Hub

marketsClub

Welcome Bonus

Loyal Bonus

Referral Bonus

Swap-free Accounts
Partnership

Affiliation

IB
About

About Markets.com

Why markets.com

Global Offering

Our Group

Careers

Awards and Media

Help Support

FAQ

Help Centre

Contact Support

Complaints

Data & Security

Safety Online

Cookie Disclosure

Legal Pack

Legal Documents

Language

Gold ETF Holdings Surge Amid Rate Cut Anticipation

Saturday Dec 6 2025 00:00

2 min

Table of Contents

1. Gold ETF Holdings Surge Driven by Rate Cut Anticipation
1.1 Steady Growth in Gold ETF Holdings
1.2 Factors Influencing Capital Flows into Gold
1.3 Analyst Insights on the Gold Market
1.4 Regional Analysis of Gold ETF Flows
1.5 Performance of Silver ETFs
1.6 Overview of Gold Price Performance
1.7 The Role of the "Currency Debasement Trade"
1.8 Impact of Gold ETF Investors on Prices
1.9 Focus on Upcoming Inflation Data

Gold ETF Holdings Surge Driven by Rate Cut Anticipation

Gold exchange-traded funds (ETFs) have witnessed a notable increase in their holdings, reaching a month-end peak, signaling a sustained inflow of capital that is further fueling already-hot gold prices.

Steady Growth in Gold ETF Holdings

According to data from the World Gold Council (WGC), total ETF holdings rose to 3,932 tons by the end of November, marking the sixth consecutive month of growth. This steady increase suggests a robust investor appetite for gold as a safe-haven asset.

Factors Influencing Capital Flows into Gold

The WGC noted that total gold purchases for 2025 have already exceeded 700 tons, suggesting that inventories are on track for their largest annual increase ever. Market anticipation of interest rate cuts by the Federal Reserve has further buoyed this upward trend, with gold surpassing $4,230.

Analyst Insights on the Gold Market

Lukman Otunuga, senior research analyst at FXTM, stated, "Bets that the Fed will cut rates next week are contributing to upside in gold prices."

Regional Analysis of Gold ETF Flows

Gold ETFs have seen monthly increases in holdings every month this year except for May, both in dollar value and tonnage. Asia was the main driver of capital inflows in November, with China the single largest contributor to growth, driven by weak stock markets and geopolitical tensions. India has also recorded six consecutive months of net inflows.

Performance of Silver ETFs

Furthermore, the increase in silver ETF holdings in just four days through Thursday exceeded the total of any full week since July.

Overview of Gold Price Performance

Gold prices have been steadily climbing since the end of 2022, with this rally accelerating sharply this year. As a safe-haven asset, gold is on track for its best annual performance since 1979, as investors flock to alternative assets amid concerns about sovereign bonds and currencies.

The Role of the "Currency Debasement Trade"

Precious metals have benefited from the so-called "currency debasement trade," driven by concerns about fiscal deficits in major economies. Moreover, dovish central banks are attracting investors to gold, as lower borrowing costs represent a tailwind for non-yielding assets.

Impact of Gold ETF Investors on Prices

Rhona O’Connell, head of market analysis at StoneX Financial Ltd., stated, "ETF investors have been price makers rather than takers for the past four to six months." She added that, given money is generally rotating into hard assets like gold, the recent inflows are likely to continue.

Focus on Upcoming Inflation Data

Investors are now looking ahead to the September Personal Consumption Expenditures (PCE) inflation data, due later today, which is the last inflation reading before next week’s Federal Open Market Committee (FOMC) meeting.

Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Written by:

Emma Rose