Investors Are Dumping Gold At A Historic Pace
Portfolio Pulse from Aaron Bry
Despite growing market uncertainty, investors are selling gold at a historic rate, with Gold's relative strength index hitting a level seen less than 1% of the time since 1971. The SPDR Gold Trust (GLD) has seen a slight increase recently, but is down more than 6% in the last six months. In contrast, the SPDR S&P 500 Trust ETF (SPY) is up more than 6% in the same period. Some investors are opting for treasury bonds that offer around 5% yield and are virtually risk-free.
October 10, 2023 | 7:07 pm
News sentiment analysis
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POSITIVE IMPACT
The SPDR S&P 500 Trust ETF (SPY) is up more than 6% in the last six months.
The news indicates a positive sentiment towards the S&P 500, which is reflected in the performance of SPY. The overall trend for SPY is positive.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR Gold Trust (GLD) is down more than 6% in the last six months, despite a slight increase in the last week.
The news indicates a negative sentiment towards gold, which is reflected in the performance of GLD. Despite a slight increase recently, the overall trend for GLD is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100