Gold Adds to Losses but Analysts Still See Long-term Safe-haven Demand
Gold encountered a major bearish signal: related to Trump! The price of gold fell by $21. How should gold be traded next?
On Tuesday, as the USD reached a more than four-month high, increasing the opportunity cost for non-USD buyers to hold gold, the gold price plummeted to a near two-month low. Analyst Christian Borjon Valencia from FXStreet pointed out that there was a large outflow of funds from gold ETFs, indicating that investors are shifting towards higher-risk assets.
Express News | Global largest gold etf--SPDR Gold Trust decreased its holdings by 1.44 tons compared to the previous day, with the current holdings at 870.53 tons.
GLD ETF Declines 0.9%
SPDR Gold ETF Options Spot-On: On November 12th, 224.83K Contracts Were Traded, With 3.03 Million Open Interest
On November 12th ET, $SPDR Gold ETF(GLD.US)$ had active options trading, with a total trading volume of 224.83K options for the day, of which put options accounted for 55.41% of the total
Gold Steady Even as Dollar and Yields Continue Post-Election Rally