Reported 29 days ago
The largest gold-backed ETF, SPDR Gold Shares (GLD), experienced its biggest weekly outflow of over $1 billion since July 2022 following Donald Trump's election victory, as investors moved to take profits. While gold typically serves as a safe haven during political uncertainty, the definitive election results led to a shift in investor sentiment, coinciding with a drop in gold prices and a rise in US equities and the dollar.
Source: YAHOO