Gold-backed ETFs and ETCs record 13.6 percent growth in 2025

The gold price has repeatedly reached record levels in 2025, and its high demand has been going strong for years and seems unbroken. Institutional and private investors are not only turning to physical gold, but also to gold-backed ETFs and ETCs (Exchange-Traded Funds and Commodities). Data recently published by the World Gold Council shows that gold funds and ETCs have seen worldwide inflows of 29.7 percent year-on-year in 2025 as well as outflows of 16.1 percent, coming down to net inflows of 13.6 percent, or 428 tons of gold.

Tariff threats and Fed dispute drive investors into safe havens

The escalation of geopolitical tensions caused by disruptive US economic policy is causing concern among investors worldwide, leading to an amplified shift towards gold.

• At 228.9 tons, more than half of the increased demand for gold funds in 2025 originated in the US.
• In China, the volume of gold managed in ETFs rose by 76.9 percent.
• In Europe, gold-backed ETCs saw an inflow of 100.7 tons of gold, as investors are unsettled by the looming Trump tariffs.

German ETCs lead inflows in the Eurozone

At 16.1 tons, inflows into gold ETCs in Germany rank only fifth worldwide, but German ETCs lead within the Eurozone. German investors generally have a strong affinity for gold – at the end of 2024, they held 9,100 tons of gold, the highest per capita amount worldwide. According to a recent survey by Tradegate.direct, German investors continued to focus on gold in 2025, with 40 percent of private investors surveyed further expanding their gold allocation in recent months, while 15 percent have reduced their exposure to US stocks.