Analysis of Recent Trends and Capital Flows in Gold ETFs
Amid ongoing geopolitical risks, traditional safe-haven assets such as gold and silver are perceived as underperforming, leading to notable fund outflows from gold and silver ETFs and a shift towards dollar ETFs. According to Korea Exchange data, gold and silver ETFs saw a decrease of approximately KRW 1 trillion in net assets over the past month, while dollar ETF assets increased by 10.6% in the same period. Experts suggest that a structural rebound in gold prices will likely occur once war-related risks begin to subside, with medium- to long-term demand for gold expected to remain steady.
Despite these fund outflows, gold ETFs have demonstrated a notable price rebound. Major gold ETFs including ACE KRX Gold Spot and TIGER KRX Gold Spot have posted gains of 7.77% to 9.44% over the last ten trading days, while HANARO Global Gold Mining Companies ETF delivered an impressive 21.14% return. The drivers behind the gold price rally include inflation concerns due to war, a decline in real interest rates, and increased gold buying by emerging market central banks. Industry experts continue to highlight gold's long-term investment appeal in the face of persistent geopolitical uncertainties.
The rapid growth of the KRX gold spot market has been significantly influenced by leading gold spot ETFs such as 'ACE KRX Gold Spot' and 'TIGER KRX Gold Spot,' which have recorded KRW 4.8231 trillion and KRW 1.4736 trillion in net assets, respectively, topping domestic commodity ETF rankings. However, this growth has led to physical gold supply shortages, resulting in price dislocation and the so-called 'kimchi premium'. To address these challenges, stakeholders are considering expanding participation of LBMA-certified refiners and exploring various measures to enhance market liquidity.
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"After All the Turns, It's Still Gold"…Related ETF Yield Recovery - fnnews.comDespite the geopolitical risks stemming from the Middle East, gold-related exchange-traded funds are showing signs of recovery. Experts advise that despite price volatility, the long-term allure of gold remains undiminished. According to the Korea Exchange on the 6th, the ACE KRX Gold Spot closed higher on 7 out of the last 10 trading days.
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[KRX Gold Market③] Growth Driven by Physical Gold ETFs…Liquidity Expansion is a Challenge - Yonhap InfomaxRecently, the rapid growth of the KRX physical gold market has been largely driven by physical gold Exchange Traded Funds (ETFs). However, as demand for gold investment increases, ensuring an adequate supply capacity of physical gold is highlighted as a challenge. According to Yonhap Infomax ETF Compilation (Screen Number 7101) on the 6th, there are two ETFs listed in Korea that use physical gold as their underlying asset: 'ACE KRX Gold' and 'TIGER KRX Gold'. Among ETFs based on domestic commodities, 'ACE KRX Gold' (4.8231 trillion KRW) and 'TIGER KRX Gold' (1.4736 trillion KRW) hold the first and second places in net assets.
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조선일보2026 4月 06
Even safe assets can't be trusted: Gold and Silver ETFs evaporate by 1 trillion won in a month, funds shift to dollars - Chosun IlboEven safe assets can't be trusted: Gold and Silver ETFs evaporate by 1 trillion won in a month, funds shift to dollars. 1 trillion won evaporated from gold and silver ETFs in a month. Long-term demand remains strong. Some view it as a buying opportunity at low prices. Gold and silver, often regarded as representative safe assets during geopolitical crises, are failing to fulfill their roles, leading to a shift of funds related to gold and silver.