India Gold ETF Inflows Drop 55% in Nov as Global Buying Cools

• India's Gold ETF inflows dropped 55% month-over-month to $379 million in November, despite marking six consecutive months of net inflows.
• Year-to-date inflows for 2025 reached a record $3.43 billion, the highest ever for a single calendar year.
• Global gold ETF buying also moderated in November, with significant drops in North America and Asia, and Europe reversing previous outflows.
• Reasons for the slowdown included waning expectations of a Fed rate cut, easing geopolitical tensions, and investors booking profits from gold ETFs due to equity market volatility.
• China was an outlier, seeing 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 reveal shifting investor sentiment amid global economic uncertainty.