Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, reported a total holding of 1,038.63 tons of gold, reflecting a decrease of 3.15 tons from the previous trading day, coinciding with a significant drop in spot gold prices [5]. Group 1: Gold ETF Holdings - As of November 4, the SPDR Gold Trust's holdings were 1,038.63 tons, down by 3.15 tons from the previous day [5]. - The decline in gold ETF holdings occurred alongside a notable drop in spot gold prices, which fell to a low of $3,929.14 per ounce, marking the lowest level since October 30 [5]. Group 2: Market Conditions - On November 4, spot gold prices experienced a significant decline, closing at $3,931.78 per ounce, down $69.38 or 1.73% [5]. - The overall market sentiment was affected by a decline in global stock markets and risk assets, leading to a downward trend in commodities such as gold, silver, and oil [5]. Group 3: Economic Factors - The strengthening of the US dollar and rising bond yields have contributed to the pressure on gold prices, with expectations for a December rate cut diminishing [6]. - Economic uncertainty stemming from the potential government shutdown has provided some support for gold prices, as Congress remains deadlocked over funding proposals [6]. Group 4: Technical Analysis - Recent weeks have seen key technical levels breached, particularly the psychological $4,000 mark, triggering technical selling and long liquidation [6]. - The technical outlook for gold indicates an increased risk of correction, with daily momentum indicators showing a downward trend and a weakening bullish sentiment [6][7]. - Short-term support for gold is identified in the $3,910-$3,900 range, with potential challenges to $3,850 and even $3,800 if further declines occur [7].
黄金ETF持仓量报告解读（2025-11-5）金价跌势加速 下挫至3930
Sou Hu Cai Jing·2025-11-05 06:08