$38B Floods Into Gold ETFs as Institutions, Sovereigns Shift Strategy | Joseph Cavatoni

As gold holds near $3,300 an ounce, physically backed gold ETFs just recorded their largest semi-annual inflow since the 2020 pandemic panic - adding 397 metric tons and over $38 billion in capital. World Gold Council Chief Market Strategist Joseph Cavatoni joins Kitco News from the Rule Symposium in Boca Raton to break down what’s driving the shift: capital flight from fiat, rising institutional demand, and renewed interest from sovereign wealth funds.

Cavatoni addresses Asia’s record ETF buying, China’s shadow reserves, and why Western pension and long-duration capital may finally be returning to gold. He also discusses whether this marks a structural realignment or temporary safety play, and how miners, vaults, and supply chains are adapting to tighter physical conditions.

Special thanks to our sponsor, G Mining Ventures, for making this coverage possible. To learn more, visit: https://gmin.gold//

Key topics:
-$38B ETF inflows and gold's physical tightness
-Why Asia is punching above its weight in ETF flows
-China's official gold numbers and sovereign accumulation
-Structural vs. tactical gold demand: who's really buying?
-Sovereign wealth fund and pension interest in bullion
-Miners, ounces, and what tighter supply means for pricing
-Second-half 2025 catalysts and risks to watch

Follow Jeremy Szafron on X: @JeremySzafron ( / jeremyszafron )
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Follow the World Gold Council on X: @GOLDCOUNCIL ( / goldcouncil )

00:00 Introduction
00:17 Gold Market Dynamics and Institutional Investments
01:05 Interview with Joseph Cone: Insights on Gold ETFs
03:34 Asian Market Influence and Central Bank Activities
11:22 Physical Gold Market and Future Risks
16:29 Conclusion

#Gold #JosephCavatoni #WorldGoldCouncil #GoldETFs #DeDollarization #CentralBankGold #InstitutionalInvesting #GoldDemand #KitcoNews #RuleSymposium #JeremySzafron #GoldStrategy #ChinaGold
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