India is now the world's 3rd-biggest gold ETF investor

Business Nov 16, 2025

India climbed to the number three spot globally for investments in physically-backed gold ETFs in October 2025.
In October alone, Indians put in $849.8 million, adding up to $2.91 billion for the year so far.
This rush happened as gold prices hit a high of $4,381 an ounce before settling a bit lower.

US and China top the charts; Europe pulls back

The US led with $6.33 billion invested in gold ETFs last month, while China wasn't far behind at $4.51 billion.
Meanwhile, investors in the UK and Germany actually pulled money out—$3.5 billion and $1.17 billion respectively.
Altogether, global ETF gold holdings reached 3,895 tons by early November, almost matching their all-time peak from 2020.