Private estimates realize that they registered the highest investment flow since March 2022. The US ETFs led record tickets in several years.
The Global Gold ETF funds They continued to receive an important precious metal betting flow last February and in all regions of the world, chaining thus three consecutive months of net income. According to Bloomberg estimates, Company Filings, Ice Benchmark Administration, and WGC, The Golden ETF funds with physical support worldwide registered important tickets in February for a total of 9.4 billion dollars, the highest figure since March 2022.
Among the remarkable facts of last month, it is worth mentioning that North American flows became positive after two consecutive monthly outputsregistering one of the strongest months in its history. Also Asian demand was strongwhile European tickets were reduced. Analysts point out that three consecutive months of strong global entries have already been seen that, combined with an upward trend in the price of gold, have raised total assets under management 4.1% Au $ 306,000 million, another end of the month peak. Meanwhile, holdings increased 3.1% to 3,353 tons, the highest month level since July 2023. By way of comparison, Global Gold Funds already have more gold than Germany and even the International Monetary Fund (IMF).
Gold: regional panorama and demand reasons
Now, how was the panorama at the regional level last month? On the one hand, The US demand increased, adding US $ 6,800 million. It was the largest monthly entry in the region since July 2020 and the most solid February in history. While the greatest gold traffic from and from the old continent and other markets also benefited the North American Gold ETFs, there were also other important factors that contributed to the fall. For example, experts explain, the US Treasury bond rates showed a downward trend and several economic signals flanged in red. So that, The lower yields, along with a weaker dollar, were a good omen for the price of gold for most of the month; In fact, it reached nine new historical maximums in February before falling in the second half. Experts believe that the reduction of opportunity costs and a price of gold that broke records were key to attract capital tickets.
In addition, a setback in shares markets and stagflation fears were also probably positive drivers of demand. Also, significant tickets have been observed caused by the expiration of the OCD OCD options, indicating a greater upward feeling of investors, stand out from the London metal market. Of course they also consider that, although they would not be surprised to see a slowdown of the impulse, Current concerns about recession and political uncertainties (geopolitical and economic) will probably continue to provide a demand support floor.
European, modest, and Asian investors, aggressive
On the European side, modest capital tickets were registered for US $ 151 million. The United Kingdom registered slight capital exits, while Germany and Switzerland continued to register profits. For analysts, despite the 25 basic points cut in the interest rate of the Bank of England in the month, the rapid inflation acceleration than expected in January may have cooled the expectations of new cuts inverters and have promoted the upward local yields. On the other hand, the expectations that the European Central Bank (ECB) continues to cut its interest rates this year have intensified in a slower disinflation and growth context, which could have been a key factor that underwent capital tickets to other European gold ETFs. In addition, the greatest uncertainty during the period prior to the German federal elections at the end of February may also have provided some livelihood.
Asian investors also bought Gold ETF aggressively in February, raising US $ 2,300 million. China led capital tickets: despite the positive feeling of the stock market (particularly around artificial intelligence actions amid the Deepseek frenzy), the increase in the price of local gold caught attention. In fact, the Baidu search index of the keyword “gold” shot at its highest level since 2013. On the other hand, the Indian Gold ETFs maintained capital tickets, although at a reduced rate compared to the January record levels while Japan returned to register capital tickets for the fifth consecutive month.
The funds from other regions added US $ 159 million, their third consecutive monthly income where Australia dominated the demand (it was the strongest month since September 2024) and South Africa also registered profits.
Higher commerce volumes
It should also be highlighted that gold frenzy resulted in higher volumes of precious metal trade. That is why it does not strange that Commercial activities in world gold markets will increase in February closing the month with an average of approximately US $ 300,000 million. In addition, from London they point out that OTC operations, dominated by the LBMA, increased even more, since the distributors moved gold in response to the US tariff concerns.
When observing the closure of the total total net -fth of Comex’s future nets that fell by 13% intermensual to 832 tons at the end of February and that even the long net positions of the money managers fell 16%, ending the month in 605 tons, the experts emphasize that, however, there is still 9% above the average of 2024 of 556 tons. Therefore, they think that benefits activities as gold shot could have driven the fall of long net positions of money managers.
Source: Ambito
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