COTD: Gold tops local ETF inflows in H1 2025

The global gold spot price recorded its highest New York closing level in history.

The SPDR Gold Shares ETF topped local inflows with $309m in net inflows and delivered a 31% total return in USD during the first half of the year.

Trade tensions, global growth and inflation uncertainties, and geopolitical risks have collectively driven this shift.

Nikko AM SGD Investment Grade Corporate Bond ETF saw the next highest net inflows at $115m.

Last 13 June, the global gold spot price recorded its highest New York closing level in history.

State Street Global Advisors APAC Gold Strategist Robin Tsui said that gold's early 2025 rise cemented its safe-haven status amidst uncertainty.

Tsui adds that with a new price floor near $3,856 (US$3,000)/oz, he remains medium-term bullish, projecting a 50% chance of reaching $3,985 to $4,499 (US$3,100–US$3,500)/oz and a 30% chance of $5,013 (US$3,900)/oz should stagflation and de-dollarisation accelerate.

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