For investors seeking momentum, SPDR Gold Shares (GLD) is probably on the radar. The fund just hit a 52-week high and is up 70.79% from its 52-week low price of $236.13/share.But are there more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:GLD in FocusThis ETF is designed to track the spot price of gold bullion. The product charges 40 bps in annual fees (See: All Precious Metals ETFs).Why the Move?Gold has be ...

EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your ...

EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your ...

Core Insights - The dollar index fell by -0.06%, reaching a 1-week low, primarily due to the US government shutdown and weak labor market data [1] - The unexpected decline in the September ADP employment change by -32,000, the largest drop in 2.5 years, has increased the likelihood of a Fed rate cut to 100% for the upcoming FOMC meeting [2][3] - The ISM manufacturing index for September rose to a 7-month high of 49.1, which provided some recovery for the dollar after its initial losses [1][3] Labor Market - The September ADP employment change unexpectedly fell by -32,000, contrasting with expectations of a +51,000 increase, marking the largest decline in 2.5 years [2] - The August ADP employment figure was revised down from +54,000 to -3,000, indicating a weaker labor market than previously thought [2] Manufacturing Sector - The ISM manufacturing index increased by +0.4 to 49.1, surpassing expectations of 49.0, indicating a stronger manufacturing sector [3] - The ISM price paid sub-index fell by -1.8 to an 8-month low of 61.9, which was weaker than the expected 62.7 [3] Eurozone Insights - The euro rose by +0.02%, supported by dollar weakness and an upward revision of the Eurozone September S&P manufacturing PMI to 49.8 [4][5] - Eurozone September CPI increased by +2.2% year-on-year, aligning with expectations, while core CPI remained unchanged at +2.3% year-on-year [5] Central Bank Divergence - The market perceives the ECB as nearing the end of its rate-cut cycle, while the Fed is anticipated to cut rates approximately two more times by the end of the year [5][6] - Swaps indicate a 1% chance of a -25 basis point rate cut by the ECB at the October 30 policy meeting [6] Currency Movements - The USD/JPY fell by -0.55%, with the yen reaching a 2-week high against the dollar due to increased safe-haven demand following the US government shutdown [7] - Positive economic indicators from Japan, including an increase in the Q3 Tankan large manufacturing sentiment index and an upward revision of the September S&P manufacturing PMI, contributed to the yen's strength [7]

Core Insights - Gold (XAUUSD) has reached a record high and is on track for its seventh consecutive week of gains [1][8] - Recent buying activity is driven by a weaker U.S. dollar and concerns over a potential government shutdown [2][8] - The price of gold has increased by 45% since the beginning of the year and by 10% in the last month, significantly outperforming major stock indexes [3] Market Dynamics - The softer U.S. dollar enhances demand for gold from foreign buyers, while safe-haven demand rises due to geopolitical tensions and the risk of a government shutdown [2][8] - Spot gold is currently trading around $3,850 per ounce [3] Technical Analysis - After a four-month consolidation period, gold's price has shown strong upward momentum since early September [4][8] - The relative strength index indicates bullish momentum but is nearing levels that have historically preceded pauses in the uptrend [4] Price Forecast - Technical analysis suggests a bullish price target of approximately $4,365, indicating a potential upside of about 13% from current trading levels [6][8] - Key support levels to monitor during potential pullbacks are around $3,450, $3,120, and $2,790 [8]

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading activities [1]. Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1]. - The content is not tailored to individual financial situations or needs, highlighting the necessity for users to apply their own discretion [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - Users are encouraged to perform their own research and understand the risks involved before investing in any financial instruments [1].

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading [1]. Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1]. - Users are advised to perform their own research and consider their financial situation before making decisions [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - It encourages users to understand how these instruments work and the associated risks before investing [1].

Group 1 - The core viewpoint of the articles highlights a significant surge in gold prices, with a 10% increase over a 20-day period and a year-to-date rise of 38%, reaching a historical high of $3700 per ounce, redefining gold's status in the global financial system [1] Group 2 - The strong performance of gold is attributed to dovish signals from Federal Reserve Chairman Jerome Powell and weak labor market data, which fueled expectations for interest rate cuts, directly driving up gold prices [2] - The importance of gold in investment portfolios has increased significantly, with its share in official reserves rising from under 10% to 25% over the past decade, supported by substantial purchases from emerging market central banks [2] Group 3 - In Q3, global gold ETFs saw significant inflows, with $3.2 billion in July and $5.5 billion in August, primarily driven by North America and Europe, while Asia experienced a net outflow of nearly $500 million [3] - Year-to-date, total inflows into gold ETFs reached $47 billion, nearing the peak levels of 2020, with total assets growing to $407 billion, driven by global easing policies and safe-haven demand [3] Group 4 - The outlook for Q4 suggests that the U.S. economy is slowing, leading to expectations of accelerated interest rate cuts, which will continue to support gold prices as the opportunity cost of holding gold decreases [4]

Core Viewpoint - Barrick Mining Corporation is expected to report its second-quarter 2025 results on August 11, with anticipated higher gold prices impacting performance despite cost challenges [1][7]. Group 1: Earnings Performance - Barrick has beaten the Zacks Consensus Estimate for earnings in three of the last four quarters, with an average earnings surprise of approximately 12.5% and a notable 20.7% surprise in the last quarter [1]. - The Earnings ESP for Barrick is +1.14%, with the Zacks Consensus Estimate for the second quarter currently at 47 cents [4]. Group 2: Production and Costs - Gold production for Q2 is forecasted at 783,000 ounces, reflecting a 17% decline from the previous year [7][9]. - The company projects all-in-sustaining costs (AISC) for 2025 to be between $1,460 and $1,560 per ounce, indicating a year-over-year increase [11]. Group 3: Market Conditions - Gold prices have risen significantly this year, driven by safe-haven demand amid global trade tensions, geopolitical issues, and a weak dollar, reaching a record high of $3,500 per ounce on April 22, before closing above $3,300 per ounce at the end of Q2 [8]. - Gold prices increased nearly 6% in the second quarter, contributing positively to Barrick's expected performance [8]. Group 4: Future Outlook - The company has provided a cautious forecast for 2025, expecting attributable gold production to be in the range of 3.15 to 3.5 million ounces, down from 3.91 million ounces in 2024 [10]. - Increased production from certain mines is expected to be offset by reduced output from others, indicating mixed performance across its operations [10].

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading activities [1]. Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information should not be interpreted as recommendations or advice for any financial actions [1]. - The content is not tailored to individual financial situations or needs, highlighting the necessity for users to apply their own discretion [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - Users are encouraged to perform their own research and understand the risks involved before investing in any financial instruments [1]. - The website disclaims any responsibility for trading losses incurred as a result of using the information provided [1].