SPDR Gold Shares, the largest gold ETF in the U.S., has faced over $14 billion in outflows since March 1, 2026, as gold prices have fallen by approximately 7.8% year-to-date.
As of July 16, the ETF's total assets under management stood at nearly $128.61 billion, according to data from Bloomberg. This significant decline in assets was driven by record outflows of $8.5 billion in March, followed by net outflows of $1.7 billion in April, $872 million in May, and $3.2 billion in June. July has also seen a decline, with the ETF losing about $46 million so far.
The price of gold has been trading at around $3,994.95, contributing to a market capitalization drop to nearly $27.82 trillion as reported by CompaniesMarketCap. Analysts suggest that the sell-off could be linked to a rising interest in semiconductor stocks and industrial metals, driven by the demand for AI-related technology, which has overshadowed gold as an asset class.
Prominent semiconductor stocks such as Nvidia Corp., Advanced Micro Devices, and Broadcom have been experiencing upward trends this year, further diverting investment from gold. Despite these challenges, gold continues to have underlying support from global inflation and persistent demand from central banks. Should SPDR Gold Shares begin to record cash inflows again in the future, a recovery in the asset's price could be anticipated.
This material is informational and not financial advice.
