Biggest Gold ETF Posts Highest Monthly Inflows In 2.5 Years As Investors Rush To Safe Haven Ahead Of Presidential Election
Portfolio Pulse from Piero Cingari
The SPDR Gold Trust (NYSE:GLD), the largest gold ETF, experienced its highest monthly inflows in 2.5 years due to economic and policy uncertainties ahead of the U.S. presidential election. GLD's assets under management reached $79.7 billion, with $1.8 billion in net inflows for October. Global gold demand surged, driven by macroeconomic concerns and market uncertainty.
October 31, 2024 | 7:58 pm
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The SPDR Gold Trust (GLD) saw its highest monthly inflows in 2.5 years, driven by investor demand for safe-haven assets amid U.S. election uncertainties. GLD's assets under management reached $79.7 billion, with $1.8 billion in net inflows for October.
The significant inflows into GLD indicate strong investor interest in gold as a safe-haven asset amid economic and policy uncertainties. This trend is likely to positively impact GLD's short-term price as demand for gold-backed assets increases.
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