Global Gold ETFs: According to the World Gold Council’s (WGC) February 2026 Gold ETF Commentary, the global physically backed gold ETFs continued to see strong investor demand, recording US$5.3 billion in inflows during February, marking the ninth consecutive month of inflows and the strongest start to a year in two months. Total holdings rose to a record 4,171 tonnes, and assets under management reached US$701 billion, supported by rising gold prices and increased demand for safe-haven assets amid geopolitical tensions, policy uncertainty, and concerns in equity markets.
North America accounted for most of the inflows. Asia also saw steady buying, while Europe was the only region with net outflows due to early-month selling after the late-January precious metals decline. Despite a slight decline from January’s peak, global gold trading volumes remained elevated compared with 2025 levels, indicating continued strong market activity and investor interest in gold.
GLOBAL GOLD ETF: HOLDINGS
According to the World Gold Council’s report, the continued inflows lifted global gold ETF holdings by 26 tonnes to 4,171 tonnes, the highest level on record. Rising gold prices also lifted the total assets under management (AUM) of gold ETFs to a new all-time high of USD 701 billion. With February’s inflows, global gold ETFs have already recorded year-to-date inflows of around $24 billion in 2026, making it the strongest start to a year for the segment in recent years.
North America remained the dominant contributor to global inflows, attracting $4.7 billion in February alone. This marked the ninth straight month of inflows into the region, a trend that analysts note has only been seen previously during periods of elevated systemic risk such as the Global Financial Crisis and the COVID-19 pandemic. Investors in the region have increasingly turned to gold as a diversification tool amid heightened geopolitical tensions, policy uncertainty and concerns about equity markets.
The rally in gold prices after the late-January correction also encouraged fresh buying. Additional factors supporting demand included a weaker US dollar, relatively lower interest rates and ongoing uncertainty surrounding trade and tariff policies.
Asian gold ETFs continued their steady run of inflows, attracting $2.3 billion in February, marking the sixth consecutive month of net inflows in the region. Japan led regional demand, supported by political uncertainty, tensions with China, a weakening yen and strong gold performance in the local currency.
China also recorded modest inflows during the month, though activity remained relatively muted due to fewer trading days during the Chinese New Year holiday. In India, gold ETFs saw $565 million in inflows, reflecting continued investor interest despite being lower than the roughly $2 billion monthly average seen in the previous two months.
GLOBAL GOLD ETF: TRADE
According to the World Gold Council’s report, Europe was the only region to record net outflows during February, with investors withdrawing around $1.8 billion. The outflows were largely driven by heavy redemptions in the first week of the month following the late-January sell-off in precious metals.
The United Kingdom accounted for the majority of the withdrawals with $1.9 billion in outflows, while Germany recorded $291 million in redemptions. However, flows turned positive in subsequent weeks, including a $0.9 billion rebound in the second week, suggesting that the early-month liquidation was largely short-term rather than a structural shift in investor sentiment.
Despite a pullback from January’s record highs, global gold trading activity remained strong during February. Average daily trading volumes stood at $478 billion per day, which was still 32 per cent higher than the average levels seen in 2025.
Over-the-counter gold trading averaged $245 billion per day, while derivatives trading on major exchanges declined during the month after peaking early in February. Tonnage-based trading volumes averaged 2,969 tonnes per day, down from January but still reflecting robust activity in the global gold market.
Market positioning data showed a moderation in speculative positions during February. Total COMEX net long positions fell by 21 per cent to 504 tonnes, while positions held by money managers declined 18 per cent to 311 tonnes. Analysts noted that the reduction partly reflected profit-taking after the sharp rally in gold prices earlier in the year.
However, renewed geopolitical tensions toward the end of February, particularly involving the United States and Iran, triggered another rally in gold prices, indicating that investor demand for the metal as a defensive asset remains strong.
FAQs
1. How much inflow did gold ETFs record in February 2026?
Global physically backed gold ETFs recorded $5.3 billion in inflows in February 2026, marking the ninth consecutive month of positive flows.
2. What is the current total gold held by global ETFs?
Global gold ETF holdings increased by 26 tonnes to a record 4,171 tonnes during February.
3. What is the total AUM of global gold ETFs now?
Assets under management of global gold ETFs reached a record $701 billion, driven by both inflows and rising gold prices.
4. Which region contributed the most to gold ETF inflows?
North America led the demand, attracting about $4.7 billion in inflows during February.
5. Did any region see outflows from gold ETFs?
Yes, Europe recorded outflows of about $1.8 billion, mainly due to early-month redemptions following the late-January precious metals sell-off.
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