The total assets under management (AUM) more than doubled in 2025 globally, while it nearly tripled in India, data from the World Gold Council (WGC) showed.
Global demand for investments in gold through exchange-traded funds (ETFs) increased by 25 per cent in 2025, even as Indian investors more than tripled inflows in ETFs.
The total assets under management (AUM) more than doubled in 2025 globally, while it nearly tripled in India, data from the World Gold Council (WGC) showed.
As of December 31, 2025, the total assets under management (AUM) in gold ETFs were $558.9 billion, up from $271.8 billion in the year-ago period. Fund flows in 2025 were $88.55 billion against $37.04 billion in 2024. Gold holdings increased by 801 tonnes to 4,025.4 tonnes from 3224.2 tonnes in 2024. In 2024, the holdings dropped by one per cent.
3rd highest
ETF investments in India in 2025 were $4.37 billion, up over three times from $1.28 billion in 2024, and AUM increased to $14 billion from $5.1 billion. Gold holdings increased to 95 tonnes from 57.5 tonnes during the period, registering a 65 per cent rise in gold holdings.
ETF investments by Indians were the third highest for the second year in a row at $4.37 billion, after US and Chinese investors. US overtook China in ETF investments, with inflows rising to $49.82 billion compared with $1.83 billion in2024. Chinese ETF investments also increased, but it did not keep pace with US inflows. Chinese inflows were $15.47 billion compared with $4.36 billion during the period.
One of the reasons for gold soaring, hitting fresh highs 53 times in 2025, was the investments in ETFs as investors saw it as a haven in view of the geopolitical crisis and trade wars, besides the US Fed’s move to cut interest rates.
Over 3.5% gain
At 1900 hours IST, gold ruled at $4,486.43 an ounce, while February gold futures on COMEX were $4,496.76. In India, gold was quoted at ₹1,37,122 per 10 gm in the Mumbai spot market. On MCX, gold February futures were quoted at ₹1,38,597 per 10 gm. The yellow metal has gained over 3.5 per cent since the start of 2026.
Among other countries, in the UK, investors poured in $3,78 billion and in Switzerland, $4.34 billion. Japanese investors’ inflow was $3.12 billion. In France, it was $2.2 billion, and in Korea, it was $2.24 billion.
Meanwhile, global investments in ETFs continued for the seventh month in a row in December, the WGC data showed. Investments were dominated by North American funds, as they had been for the full year.
Central banks’ Nov demand firm
The WGC said the surge in the precious metals complex in December could result in some near term volatility for gold. “But beyond short-term effects, gold will likely hum to its own tune,” it said.
On the other hand, demand for gold from central banks across the world was firm in November with net purchases totalling 45 tonnes. As of November 30, central banks purchased 297 tonnes.
Emerging-market central banks continued their significant gold buying in 2025, said the WGC. The National Bank of Poland bought 12 tonnes in November, continuing its buying streak since October. The purchase lifted its gold reserves to 543 tonnes, or almost 28 per cent of total reserves at end-November prices.
The Central Bank of Brazil bought gold for the third consecutive month, adding 11 tonnes in November. It has purchased 43 tonnes since September, taking its total gold reserves to 172 tonnes (6 per cent of its total reserves).
Published on January 9, 2026
