Gold ETFs See $9 Billion Outflow in June as Hawkish Fed Signals Push Investors Out

According to the World Gold Council, 74.3 tonnes of gold valued at nearly $9 billion flowed out of ETFs in June as rising opportunity costs pushed investors away from gold-backed funds. Hawkish signals from Fed Chair Warsh and the US-Iran conflict intensified expectations of higher interest rates, driving up real yields and strengthening the dollar.

North American-listed gold ETFs led the decline with outflows of 42.4 tonnes valued at $5.5 billion. European funds saw more modest outflows of 12.1 tonnes, while Asian-listed ETFs experienced outflows of 71.5 tonnes. Despite June liquidation, global gold ETFs recorded net inflows of 17.6 tonnes valued at $8 billion for the first half of 2026.