Global ETFs drew a record $31b or Dh114b in Q3, but designers say buyers want real gold

Last updated: October 31, 2026 | 09:00

Gold gained 14 per cent in January, then posted its weakest month in almost 13 years in March Ahmad Alotbi/Gulf News

Dubai: Global gold ETFs drew a record $31 billion or Dh114 billion in the third quarter, yet jewellery designers say Indian families in the UAE will still buy physical gold for Dhanteras. There is no doubt that ETF buying is booming, but jewellery designers argue it serves a different buyer.

The World Gold Council (WGC) reports that physically backed funds or ETFs took in $10 billion or Dh36.7 billion in September alone. Holdings rose 67 tonnes to a record 4,256 tonnes. Assets under management slipped 7 per cent to $574 billion or Dh2.11 trillion because the gold price fell during the month.

The year has not been smooth. Gold gained 14 per cent in January, then posted its weakest month in almost 13 years in March.…