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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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
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