India's Gold ETF Inflows Dip 55% in November, Record Annual Total

• India's Gold ETF inflows slowed to $379 million in November, a 55% drop month-over-month, yet maintained six consecutive months of inflows.
• Year-to-date inflows for 2025 hit a record $3.43 billion, marking the highest ever for a single calendar year.
• Global gold ETF buying also cooled in November, with North America, Europe, and Asia (excluding India) experiencing reduced inflows or reversals.
• The moderation was linked to waning Fed rate cut expectations, easing geopolitical tensions, and investors booking profits from gold ETFs amid equity market volatility.
• China stood out with a $2.2 billion rush into gold ETFs, driven by equity market weakness, rising gold prices, geopolitical unease, and VAT reform.

Why It Matters: Gold ETF trends reflect changing investor sentiment and global economic outlook.