International News
WGC Gold ETF Commentary: November 2025 – Asia Takes the Helm
Global physically backed gold ETFs recorded their sixth consecutive monthly inflow of US$5.2bn in November 2025, driven primarily by Asia and exceeding the 2024 monthly average of US$292mn. Total assets under management hit a record US$530bn, up 5.4% month-on-month, with holdings reaching 3,932 tonnes—the highest month-end level ever—positioning 2025 for the strongest annual inflows on record.
Regional Flows
- Asia led with US$3.2bn inflows, spearheaded by China (US$2.2bn) amid equity weakness, gold price rebound, geopolitical tensions, and VAT reforms shifting demand from jewellery to ETFs; India marked six straight months of gains fueled by strong local gold prices.
- North America added US$1bn over six months, supported by a 4.5% gold price rise and Fed cut expectations, though offset by resilient data and equity swings.
- Europe turned positive with US$978mn, led by UK and Germany due to equity declines and Autumn Budget impacts on inflation/growth outlooks.
Other regions saw minor outflows of US$38mn. Trading volumes dipped 26% month-on-month to US$417bn/day—still above the 2024 average—across OTC, exchanges, and ETFs, amid lower gold price volatility.
International News
Rising US Inflation Fed Hike Expectations Put Pressure On Gold Prices
The Shift In Interest Rate Expectations Presents A Direct Headwind For Precious Metals. Because Physical Gold Is A Non-Yielding Asset That Does Not Generate Interest Income, Higher Prevailing Interest Rates Elevate The Opportunity Cost Of Holding Bullion Compared To Yield-Bearing Financial Instruments.
Global gold and bullion markets are experiencing increased selling pressure as accelerating U.S. inflation data reinforces expectations of an imminent interest rate hike by the Federal Reserve.
Recent macroeconomic reports indicate that U.S. inflation picked up in September, driven by higher consumer expenditure on energy, gasoline, and everyday goods. The persistent inflationary pressure has significantly reshaped market sentiment regarding monetary policy. According to the CME FedWatch Tool, traders are currently pricing in approximately a 75% probability of a rate increase at the Federal Reserve’s upcoming December meeting.
The shift in interest rate expectations presents a direct headwind for precious metals. Because physical gold is a non-yielding asset that does not generate interest income, higher prevailing interest rates elevate the opportunity cost of holding bullion compared to yield-bearing financial instruments. As borrowing costs rise and fixed-income yields become more attractive, institutional and retail capital is increasingly diverted away from gold and toward interest-bearing assets.
Market analysts note that while geopolitical uncertainties and inflation traditionally drive safe-haven demand, the prospect of tighter monetary policy and sustained higher interest rates continues to cap short-term upside potential for precious metals.
-
JB Insights1 week agoDhanteras Shopping Guide 2026:Gold, Silver, Diamonds & Festive Jewellery Trends To Watch
-
BrandBuzz1 week agoThe Solenne Collection: A Celebration Of Diwali By Bharti Bangur Fine Jewels
-
BrandBuzz1 week agoFrom Diya Puja To Diwali Soirées: Jewellery Designed To Go Beyond The Festive Season
-
National News1 week agoIndriya, Aditya Birla Jewellery Unveiled India’s Largest Sustainable Jewellery Rangavalli

