World Gold Council Outlook: Global Gold ETFs still have room for increased holdings.

The World Gold Council's "Global Gold Demand Trends 2025 Fourth Quarter and Full-Year Report" mentioned in its outlook for the future that in 2025, the demand for gold ETFs in North America is exceptionally strong, but compared to previous sharp increases in gold prices, the current inflow is still moderate, and the holdings are still relatively low compared to other assets. In addition, the demand for gold ETFs in Asia is just beginning to see significant growth, and gold ETF holdings in Europe are far below previous peak levels - leaving ample room for further increases. The overall macroeconomic environment in the medium to short term is generally conducive to maintaining a stable trend in gold demand.