Gold prices remain in a downtrend as U.S. existing home sales rise 4.8% in November
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Gold prices continue to decline as U.S. existing home sales increase by 4.8% in November, indicating a potential shift in investment focus away from gold.
December 19, 2024 | 3:30 pm
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NEGATIVE IMPACT
AAAU, a gold-backed ETF, may experience a decline in value as gold prices continue to fall due to rising U.S. home sales.
The increase in U.S. existing home sales suggests a stronger economy, which typically leads to a decrease in gold prices as investors move towards riskier assets. This trend negatively impacts gold-backed ETFs like AAAU.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80