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Gold Futures Stabilize Below the $2,000 Resistance
ETF news and views for the week of March 27 to 31, 2023.
By Trackinsight
April 3, 2023
- Gold
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After a period of sustained gains, gold futures have appeared to stabilize below the $2,000 resistance level, as the yellow metal’s rally shows signs of relenting. Several factors are likely contributing to this stabilization in gold prices, with concerns about banking stability having eased somewhat, and Treasury yields jumping.
In Europe, this recent trend was demonstrated through the performance of the Invesco Physical Gold USD ETC, which lost -2.72% week-over-week. In the US, the SPDR Gold Shares ETF shed -1.56% during the same period. Despite these losses, gold ETFs managed to capture $345 million of new money over the week.
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