Spot gold tests $2,600/oz as U.S. GDP grew 3.1% in Q3
Portfolio Pulse from
Spot gold prices are testing $2,600 per ounce as the U.S. GDP grew by 3.1% in Q3. This economic growth could influence gold-related assets.
December 19, 2024 | 2:00 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
AAAU, a gold-backed ETF, may see increased interest as spot gold prices test $2,600/oz, driven by a 3.1% growth in U.S. GDP for Q3.
The rise in spot gold prices to $2,600/oz is likely to positively impact AAAU, a gold-backed ETF, as investors may seek exposure to gold amid economic growth. The 3.1% GDP growth in the U.S. suggests a strong economy, which can lead to increased demand for gold as a hedge.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80