Spot gold steady at $2,667/oz after U.S. existing home sales rise 3.4% in October
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Spot gold prices remained steady at $2,667 per ounce following a 3.4% rise in U.S. existing home sales in October. This stability in gold prices suggests a balanced market reaction to the housing data.
November 21, 2024 | 3:30 pm
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NEUTRAL IMPACT
AAAU, a gold-backed ETF, may see stable performance as spot gold prices remain steady at $2,667/oz despite a rise in U.S. existing home sales.
The stability in spot gold prices suggests that the market is not reacting strongly to the rise in U.S. home sales. As AAAU is a gold-backed ETF, its performance is closely tied to gold prices. Therefore, the steady gold price implies a neutral short-term impact on AAAU.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50