GLD Suffers $1.8 Billion October Outflow, Its Worst Since June
As seen on the 24/7 Wall St. homepage on November 1, 2026.
Nearly half of this year's $3.8 billion in withdrawals from the largest US gold ETF came in October alone, a sign the retail bid behind gold's run is thinning out.
BREAKING: The largest US physical-gold backed ETF, $GLD, recorded -$1.8 billion in outflows in October, its biggest monthly withdrawal since June. This also marks its 3rd-largest monthly outflow since February 2024. Year-to-date, $GLD has seen -$3.8 billion in withdrawals, https://t.co/o2JZH8Vy2u
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The SPDR Gold Shares ETF recorded $1.8 billion in outflows during October, its largest single-month withdrawal since June. That kind of concentrated selling in a short window is hard to dismiss as routine portfolio rebalancing.
Year-to-date outflows stand at $3.8 billion, meaning nearly half of 2026's total withdrawals were concentrated in a single month. That acceleration suggests something shifted in investor sentiment toward physical gold during October rather than a slow, steady drift away.
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The Kobeissi Letter flagged this as a sign that the retail bid supporting gold's run is thinning out. When the largest US physical-gold-backed ETF starts losing capital at this pace, it raises a real question about whether the broader enthusiasm for gold as a trade is losing momentum among everyday investors.
Investors watching gold prices alongside ETF flow data now have two conflicting signals to weigh. Price action in gold and fund outflows do not always move in lockstep, but an outflow of this size is the kind of data point that demands attention before the next monthly flow figures arrive.
Mentioned: GLD