- SPDR Gold Trust recorded $1.8 billion in October outflows, its largest monthly withdrawal since June and its third-largest since February 2024.
- Year-to-date outflows reached $3.8 billion, putting the fund on track for its first annual outflow since 2023 after a record $23.0 billion inflow in 2025.
- GLD traded as low as $359.59 on Friday, a new 52-week low, and gold fell below $4,000 per ounce with support near $3,950 in focus.
- Hot inflation data and stronger GDP raised expectations for additional Fed tightening, increasing the opportunity cost of holding non-yielding gold.
- Investors withdrew $1.5 billion from gold and other precious metal funds last week, their second weekly outflow in seven weeks.
Quotes
“its biggest monthly withdrawal since June”
“Gold flows are highly volatile right now.”