Lates News

Earlier this week, investors pulled $1.27 billion out of the SPDR Gold Shares ETF, marking the largest single-day outflow of funds since 2011. At the same time, gold prices touched historical highs above $3500, indicating the possibility of some profit-taking factors. Similar outflows in 2011 coincided with the previous peak in the supercycle of gold, signaling a long period of consolidation until it broke out in 2020. However, this does not guarantee that this will be a turning point. As Sungwoo Park previously pointed out, there are still many bullish factors at play, including trade uncertainties, safe-haven demand, central bank demand, and Wall Street's call for further increases in spot gold prices. But the pattern of underlying currents at least raises a question: is the continued uptrend we have seen this year starting to show signs of exhaustion?