The SPDR Gold Trust ETF reported $2.1 billion in outflows in May, its largest monthly withdrawal since July 2022, according to Benzinga. The sell-off signals a sharp reversal after $7.5 billion in inflows over the prior three months. Gold prices stalled in May following a record high of $3,500 per ounce in April, as easing geopolitical tensions, spurred by the U.S.-China tariff rollback, prompted investors to pivot toward risk assets. Despite short-term weakness, gold is up 26% year-to-date, outperforming all major assets. Goldman Sachs expects gold to hit $3,700 by year-end, citing structural demand, safe-haven interest, and central bank diversification.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Spider Gold Trust ETF reported $2.1 billion in outflows in May,
00:06its largest monthly withdrawal since July 2022, according to Benzinga.
00:11Sell-off signals a sharp reversal after $7.5 billion in inflows over the prior three months.
00:17Gold prices stalled in May following a record high of $3,500 per ounce in April
00:20as easing geopolitical tensions served by the U.S.-China tariff rollback
00:25prompted investors to pivot toward risk assets.
00:27Despite short-term weakness, gold is up 26% year-to-date,
00:31outperforming all major assets.
00:33Goldman Sachs expects gold to hit $3,700 by year-end,
00:37citing structural demand, safe haven interest, and central bank diversification.
00:41For all things money, visit Benzinga.com slash GSTV.