Gold ETFs Are On a Losing Streak

From etftrends.com

Gold and related exchange traded funds slid for the fifth consecutive month, marking their worst losing streak in four years after the Federal Reserve signaled it will do whatever it takes to contain record-high inflationary pressures. The SPDR Gold Shares (GLD) dropped 2.2% over the past month and declined 6.1% year-to-date. Meanwhile, Comex gold futures are now trading around $1,722.1 per ounce. Gold prices continued to retreat Wednesday, extending losses after Fed Chair Jerome Powell reaffirmed the central bank’s commitment to raising interest rates to fight off inflationary pressures, even at the expense of ... (full story)