U.S. gold frenzy hits record highs as $215 billion inflows into ETFs

Investor interest in gold shows no signs of slowing as the asset’s exchange-traded fund (ETF) inflows hit record highs.

Specifically, Gold ETF assets under management (AUM) in US-listed products have surged to a record $215 billion, according to data shared by The Kobeissi Letter on September 14.

Gold ETF assets. Source: LSEG

Data indicates that the value of US gold ETF assets has doubled in just two years, marking one of the sharpest accelerations in the history of the asset class.

The surge comes as investors pile into the yellow metal, driven by economic uncertainty and gold’s strongest rally since the 1970s.

So far in 2025 alone, US gold ETFs have accumulated 279 tonnes of gold. The growth in the US market now surpasses global peers, with European and Asian gold ETF AUM standing at a combined $199 billion.

The ETF inflows come as gold continues to push toward new highs amid lingering economic uncertainty, with prevailing fears about a possible recession.

Gold record highs 

Notably, the metal extended its rally on Friday, trading close to record levels as soft U.S. labor market data reinforced expectations of the Federal Reserve’s first rate cut of the year next week.

Spot gold rose 0.4% to $3,648.55 per ounce, just shy of Tuesday’s all-time high of $3,673.95. A surge in jobless claims, weaker payrolls, and downward revisions to past employment data have fueled expectations that the Fed will lower rates by 25 basis points at its September 17 meeting, though bets on a larger 50-bps move have eased.

The confluence of economic factors and ETF inflows has led UBS analyst Giovanni Staunovo to forecast that gold could reach $3,900 per ounce by mid-2026, supported by continued strong demand.

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Source: https://finbold.com/u-s-gold-frenzy-hits-record-highs-as-215-billion-inflows-into-etfs/