The holdings of gold ETFs have increased for six consecutive months in November, and are expected to achieve the largest annual growth rate in history.

The gold position held by exchange-traded funds (ETFs) rose to a high at the end of November, indicating that the continued inflow of investors is adding momentum to the strong rise in gold prices. According to data from the World Gold Council, the total ETF holdings increased to 3,932 tons at the end of November, marking growth for the sixth consecutive month. The council stated in a report that over 700 tons were purchased in 2025, making it likely that holdings will see the largest annual increase on record. Except for May, ETF holdings have been increasing every month this year, both in terms of US dollars and tons.