India Ranks Third in Gold Purchases as Global ETFs Recover

In May, the global gold market rebounded with gold ETFs ending a 12-month slump, driven by strong demand in Europe and Asia. Global gold ETF holdings rose to 3,088 tonnes, with assets under management reaching $234 billion, a 2% increase. India emerged as the third-largest gold buyer, purchasing $86.5 million worth. European and Asian gold ETFs saw significant inflows, while North America experienced minor outflows. Trading activities declined overall, with the average daily volume down 13% from April.