The SPDR Gold Trust saw a $1 billion outflow in the days following the election, marking its largest weekly withdrawal since July 2022. Investors appear to be shifting away from gold, prompted by economic optimism surrounding Donald Trump's re-election. Gold’s recent pullback follows a record high of over $2,700 per ounce. With prices down 6% this month, November could be gold’s worst performance since September 2023. Analysts link the outflows to expectations for faster economic growth and a stronger dollar under Trump.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Spider Gold Trust saw a $1 billion outflow in the days following the election,
00:07marking its largest weekly withdrawal since July 2022. Investors appear to be shifting away from
00:12gold, prompted by economic optimism surrounding Donald Trump's reelection. Gold's recent pullback
00:19follows a record high of over $2,700 per ounce. The price is down 6% this month.
00:24November could be gold's worst performance since September 2023.
00:28Analysts link the outflows to expectations for faster economic growth
00:32and a strong dollar under Trump.
00:34For all things money, visit Benzinga.com.