Investors poured $10 billion into gold-backed exchange-traded funds (ETFs) worldwide in September 2026, even as gold prices slipped. Fund holdings rose 67 tonnes to a record 4,256 tonnes, the World Gold Council reported.
That capped a record quarter. Gold ETFs drew $31 billion from July through September, and U.S.-listed funds alone took in $3.8 billion in September.
The price and the buying are moving in opposite directions
Gold hit a record of $5,589.38 an ounce on Jan. 28, 2026, CBS News reported. Spot gold traded around $4,156 on Oct. 12, roughly 26% below that peak.
Lower prices also shrank the value of what funds hold. Total assets in gold ETFs fell 7% in September to $574 billion, even though the funds owned more metal than ever.
Central banks have not stopped buying either
Central banks reported net purchases of 39 tonnes in August, bringing reported buying to 170 tonnes for the year, according to the World Gold Council’s monthly tally. China’s central bank added 20 tonnes, its 22nd consecutive month of buying. Poland led all buyers for the year with 98 tonnes.
The council’s broader estimate, which includes unreported purchases, put second-quarter central bank buying at 288.9 tonnes, a record for any second quarter and up 62% from a year earlier. The council said the geopolitical backdrop and softer gold prices likely helped support those purchases.
Central bankers expect more of the same. In a council survey published June 16, 2026, 45% of responding central banks expected their own gold reserves to rise over the next year, and 89% expected official gold reserves worldwide to keep increasing.
What the buying tells you, and what it does not
Large, patient buyers treating a lower price as an opportunity is a meaningful signal about gold’s role as a long-term reserve asset. It is not a forecast. Central banks bought more gold in the second quarter than in any second quarter on record, and prices still fell.
Gold also comes with trade-offs. It pays no interest or dividends, and the Commodity Futures Trading Commission warns that precious metals prices can fluctuate just like other investments. Those traits are why gold tends to work as a diversifier, a slice of a portfolio rather than its core, and why yields on safe alternatives deserve a look before you decide how much to hold.
How big that slice should be depends on your age, income needs and what else you own. Advisor.com can connect you with a financial advisor to weigh gold against the rest of your retirement plan. It is geared toward people with roughly $100,000 to $150,000 or more in investable assets.
Three ways to own gold
Buying a gold ETF in an ordinary brokerage account or IRA is often the lowest-cost route. You own shares tied to the metal and pay an annual fund fee, with no storage to arrange and no dealer markup on coins or bars.
Physical coins and bars give you metal you can hold, but you pay a dealer premium when you buy, take a lower price when you sell and handle storage and insurance yourself. Know the break-even math before you buy.
A gold IRA holds physical metal in a tax-advantaged retirement account, with a custodian and approved depository handling paperwork and storage. Anthem Gold Group offers gold and silver IRAs that let you hold physical metal in your retirement savings. Its guide is free and no-obligation, and a specialist can walk you through your options in minutes. Request your free guide.
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