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End Session Commentary - Detailed News

Weekly Gold Review: COMEX futures hit two-week high before easing
11-Jul-26   12:57 Hrs IST
COMEX Gold futures eased as markets remained transfixed on the geopolitical scenario and worries over seasonally weak demand in Indian physical markets weighed on sentiments. COMEX Gold spiked around two-week high above $4200 per ounce but failed to sustain and ended the week marginally higher at $4130 per ounce. In a key update for the metal, World Gold Council or WGC has stated in a latest update that Gold-backed exchange traded funds or ETFs flows data for June saw continued outflows from funds listed in all regions, yet global gold ETF flows have remained positive y-t-d. Global gold ETFs' AUM reached US$526billion (bn) by the end of June, a 6% fall in H1 due mainly to a lower gold price; collective holdings in the first half were up 18 tonnes (t) to 4,047t. Gold market trading volumes pulled back in June yet the H1 average reached an all-time high. Global investors further trimmed their gold ETF holdings in June. Physically backed gold ETFs1 saw outflows of US$8.9bn in the month. All regions experienced outflows with North America losing the most. In the month, global gold ETFs' total assets under management (AUM) fell 13% to US$526bn, whilst holdings reduced by 74t to 4,047t. Despite June's loss, global gold ETF flows remained positive at US$8 billion in H1. Asia dominated global inflows ' the region's strongest H1 on record ' while North America was the only region with losses. Europe saw healthy inflows. Global gold ETFs' AUM fell 6% in H1, reflecting the lower gold price despite positive inflows. Collective holdings rose slightly by 18t.

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