Chinese gold ETF holdings up 92% since 2023

August 10, 2024--Chinese gold exchange-traded funds (ETFs) have experienced a surge, with holdings increasing by 92% since the beginning of 2023, according to Wells Fargo.
The bank said the surge in gold ETF investments reflects robust demand from Chinese investors seeking safety amid economic uncertainties.

Wells Fargo highlights that "Asian gold exchange-traded funds' (ETFs) holdings have grown 56% since January 2023," with 92% growth in China specifically.

This surge in gold holdings has coincided with a 23% return on gold over the same period. Furthermore, the substantial increase in Chinese gold ETF holdings is said to underscore a broader shift toward safe-haven assets as investors navigate economic challenges.