The Kobeissi Letter
The Kobeissi Letter|10月 12, 2026 15:21
BREAKING: Global physical gold-backed ETFs attracted +$30.7 billion in inflows in Q3 2026, their largest quarterly intake on record. In September, inflows totaled +$10 billion, the 3rd-largest monthly inflow of 2026, following +$17.9 billion in August, the 2nd-largest monthly intake on record. As a result, global gold ETF holdings rose +67 tonnes last month to a record 4,256 tonnes. This surpasses the previous record of 4,176 tonnes set in February. Year-to-date, global gold ETFs have seen +$38.5 billion in inflows, equivalent to an increase of +226 tonnes in gold holdings, with all regions recording positive demand. UK-listed funds have attracted +$9.5 billion in inflows over the same period, overtaking China to become the largest source of country-level demand so far in 2026. Demand for gold is extremely strong.
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