World Gold Council data show global gold ETFs recorded a $2.0 bln net outflow in
May, reducing total AUM 2% to $604 bln. Europe was the only region with net
inflows ($334 mln); Asia saw $1.2 bln of outflows and North America $1.1 bln,
the main source of the net outflow. May trading volumes rose modestly; average
daily liquidity increased to $424 bln, remaining above the 2025 average.