Gold ETF Inflows Reach Record High in January

Gold prices experienced a sharp decline from record highs over the past week, coinciding with significant capital inflows into gold ETFs. According to Ming Pao, the World Gold Council reported that January saw an influx of $19 billion into gold ETFs, marking a record high for a single month. Global holdings increased by 120 tons to 4,145 tons, also reaching a record level. On January 30, gold prices plummeted; however, the report noted that, apart from Europe, regions such as Asia, North America, and others recorded net inflows into gold ETFs on that day and on February 2. This suggests that investors might be taking advantage of lower prices to increase their gold holdings.