Gold ETFs lose $21.35 billion in March after U.S.-Israel offensive
Gold ETFs saw massive outflows in March 2026, with $21.35 billion pulled out, way more than the $9.12 billion that flowed in.
One contributing reason? The U.S.-Israel offensive against Iran, which started on February 27, shook up global markets and pushed gold prices down by 15% over the past month, shedding over 19% after peaking at $5,608 on January 30, landing at $4,551.08 per ounce by the end of the month.
Asia adds $13.29B, BMI holds $4,600/oz
While most investors were selling off, Asia did the opposite, adding $13.29 billion to gold ETFs, mostly from China ($7.93 billion) and India ($3.13 billion).
North America and Europe both saw money leaving instead of coming in.
Even with all this uncertainty, BMI is sticking to its annual average forecast for 2026 at $4,600 per ounce, showing just how unpredictable things feel right now.