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Top Gold ETF Sees Largest Weekly Outflow Since 2022 on Trump Win
The world’s largest gold-backed exchange traded fund recorded it biggest weekly outflow in more than two years last week as Donald Trump’s decisive election win prompted traders to book profits. SPDR Gold Shares (GLD) saw an outflow of over $1 billion, the largest weekly fund outflow since July 2022, according to data compiled by Bloomberg. Spot gold fell 1.9% over the same period. Total gold ETF holdings slipped 0.4%, the second straight weekly decline. Investors typically seek safety in bullion in times of political and economic uncertainty. They sought haven in gold last month as expectations were high that ... (full story)
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- Posted: Nov 11, 2024 1:25pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 145
