In April, global investors shifted back to gold exchange-traded funds (ETFs), leading to inflows of $6.6 billion, as reported by the World Gold Council (WGC). Notably, India recorded $297 million in inflows, marking its 11th consecutive month of positive contributions. This surge lifted total assets under management for gold ETFs to $615 billion, a 1% increase month-on-month. All regions reported positive flows, with European funds leading the way, contributing $3.7 billion to reverse earlier losses. The United Kingdom, Switzerland, and Germany significantly influenced this recovery, driven by heightened geopolitical risks and inflation concerns. In Asia, gold ETFs added $1.8 billion, with Hong Kong attracting a record $732 million and mainland China $498 million. Despite a 24% decline in global trading volumes, liquidity remained above average, indicating sustained interest in gold amid market volatility. The report noted that geopolitical tensions, particularly concerning the US-Iran conflict, could impact future flows as investors reassess their positions.