ETF and COMEX data show gold's near-term weakness, but the trend is likely to reverse – Barchart's Newsom
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Recent data from ETFs and COMEX indicate a short-term weakness in gold prices. However, Barchart's Newsom suggests that this trend is likely to reverse soon.
November 12, 2024 | 6:00 pm
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NEUTRAL IMPACT
AAAU, a gold-backed ETF, is experiencing short-term weakness in line with broader gold market trends. However, a reversal is anticipated.
AAAU, being a gold-backed ETF, is directly affected by gold price movements. The current short-term weakness in gold prices impacts AAAU negatively. However, the anticipated reversal in gold prices suggests a neutral outlook for AAAU in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80