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Gold ETF Assets Surge as Managers Rebuild Positions

By Markets Desk · 2026-09-14 · 1 min read
A stack of shiny, round gold coins resting on a dark wooden surface
Illustration: Tradingbird

Global asset managers are restoring gold allocations after early-year cuts, driven by geopolitical risks and central bank demand.

Global asset managers overseeing $27 trillion are rebuilding gold positions cut earlier this year. This shift occurs despite expectations that the Federal Reserve will maintain tight monetary policy. Firms including Amundi, Pictet, and Fidelity International have either restored their holdings or maintained bullish outlooks.

COMEX gold futures peaked at $5,586 in January before falling below $4,000 in July. Prices have since stabilized between $4,300 and $4,500. Amundi projects a recovery to $5,000 per ounce by year-end, citing geopolitical risks and diversification away from dollar assets.

Korean ETF Assets Rise Sharply

Domestic gold ETF assets in South Korea increased significantly since late July. ACE KRX Gold Spot assets rose from 3.8441 trillion won to a peak of 4.2995 trillion won. TIGER KRX Gold Spot assets climbed from 1.1573 trillion won to 1.2857 trillion won during the same period.

Samsung Asset Management products also saw growth. KODEX Gold Futures assets reached 373.6 billion won by August 25. KODEX Gold Active assets increased to 166.1 billion won. These gains reflect sustained investor interest in gold exposure through local exchange-traded funds.

Central Bank Participation Expands

The Bank of Korea added the SPDR Gold Trust ETF in the second quarter. The central bank holds 679,765 shares valued at approximately $250.41 million. This marks the first time since 2013 that the BOK has held a gold ETF.

Analysts attribute this move to a desire to diversify reserves away from the US dollar. Samsung Securities researcher Park Ju-ran notes that sanctions on Iran have reinforced long-term demand for reserve diversification. Active buying by central banks has established a solid price floor for gold.

Rate Sensitivity Remains A Risk

Gold pays no interest, making it sensitive to real interest rates. Higher rates increase the opportunity cost of holding the metal. However, global institutions prioritize structural demand over short-term rate variables.

North American ETF flows react sensitively to US monetary policy changes. This creates potential for short-term volatility in gold prices. Investors must balance geopolitical tailwinds against the impact of sustained high real yields.

Based on reporting by Chosunbiz, compiled by the Tradingbird desk.

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