Recently, I noticed an interesting turn in the gold ETF market. In April, global physical gold ETFs absorbed $6.6 billion in funds, a rebound from the sharp decline in the previous month. The March drop was indeed frightening, with gold ETF outflows reaching as high as $12 billion in a single month, setting a record.

Now it seems investors are starting to pay attention to gold again. After gold prices stabilized in April, funds began flowing back in from Europe and Asia, which also drove the rebound in gold ETFs. From the beginning of the year to now, the net inflow of gold ETFs has reached $19 billion, with assets under management increasing by 1% month-over-month to $615 billion. Holdings have increased to 4,137 tons, the third-highest level in history.

Additionally, I noticed a signal: the People's Bank of China has been increasing its gold holdings for 18 consecutive months, adding over 8 tons in April. This ongoing official buying activity somewhat supports the performance of gold ETFs. Market interest in gold is indeed warming up.