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Core Insights - Gold-linked exchange-traded funds (ETFs) experienced their fifth consecutive monthly inflow in October, indicating a strong demand for gold investments [2][3] - Total gold ETF assets under management (AUM) reached $502.8 billion, with inflows amounting to $8.2 billion in October [4] - Gold prices peaked at over $4,381 per ounce on October 20, before stabilizing at $4,001 per ounce, reflecting a 52% increase since January 1 [4] North America - North American gold ETFs added 47 tonnes, bringing total holdings to 2,043 tonnes, with inflows valued at $6.5 billion [5] - This marks the fifth consecutive month of inflows for North American funds, despite a drop in gold prices on October 21 [5][6] - Positive flows of $334 million were recorded on October 21, although outflows reached $117 million by the end of the week [6] Europe - European gold ETFs recorded their second-largest monthly outflow on record, totaling 37 tonnes and valued at $4.5 billion [7] - This decline reduced total physical holdings to 1,399 tonnes and AUMs to $180.4 billion [7] - The UK and Germany contributed significantly to the outflows, with the UK experiencing its largest monthly outflow on record [7] Asia - Asian demand for gold ETFs remained strong, with purchases totaling $6.1 billion, the second highest ever recorded [8] - This equated to 45 tonnes of gold, increasing total physical holdings to 379 tonnes and AUMs to $49.6 billion [8] - Chinese investors were the primary contributors, adding $4.5 billion worth of gold to their portfolios [8]