Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, reported a total holding of 996.85 tons of gold as of September 24, 2025, reflecting a decrease of 3.72 tons from the previous trading day, indicating profit-taking by investors at high price levels [5]. Group 1: Gold ETF Holdings - As of September 24, 2025, SPDR Gold Trust's holdings were 996.85 tons, down 3.72 tons from the previous day [5]. - The decrease in gold ETF holdings marks the end of a previous trend of continuous increases, suggesting a shift in investor sentiment [5]. Group 2: Gold Price Movements - On September 24, gold prices peaked at just below $3780 per ounce before falling to a low of $3717.46, closing at $3735.88, a drop of $28.05 or 0.75% [5]. - The price drop followed comments from Federal Reserve Chairman Jerome Powell, which dampened expectations for interest rate cuts, alongside a strengthening U.S. dollar and rising U.S. Treasury yields [5][6]. Group 3: Market Influences - Investors are closely monitoring the core PCE price index report to gauge the likelihood of future interest rate cuts, with market expectations for two 25 basis point cuts in October and December at probabilities of 93% and 79%, respectively [6]. - The potential government shutdown due to legislative gridlock adds to market uncertainty, increasing demand for safe-haven assets like gold [6]. Group 4: Technical Analysis - Technical indicators suggest a cautious outlook for gold, with the RSI showing a decline and prices expected to oscillate between $3750 and $3700, awaiting new market catalysts [7]. - Key resistance levels are identified at $3791 (historical high) and $3800 (psychological level), while support is noted at $3700, with a breach potentially leading to deeper corrections [7].

Group 1 - The current total holdings of the world's largest gold ETF, SPDR Gold Trust, stand at 975.66 tons, unchanged from the previous trading day [5] - On September 18, spot gold prices fell for the second consecutive day, reaching a low of $3628.43 per ounce and closing at $3644.27, down $15.52 or 0.42% [5] - Market analysts suggest that gold prices are reacting to the recent Federal Reserve interest rate decision, with prices hovering around the $3650 mark, significantly lower than the record high of $3707 reached after the Fed's policy statement [5] Group 2 - Recent economic data showed a significant drop in initial jobless claims in the U.S. to 231,000, the largest decline in nearly four years, which has led to renewed downward pressure on gold prices [6] - Analysts from ANZ Bank believe that gold may perform well at the beginning of the easing cycle, driven by demand for safe-haven assets amid complex geopolitical conditions [6] - Technical analysis indicates that if gold prices break below $3650, the next targets could be the September 11 low of $3613 and the psychological level of $3600 [6][7]

Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, reported a significant increase in holdings to 990.56 tons, marking the highest level since August 2022, driven by rising gold prices and favorable market conditions [6]. Group 1: Gold ETF Holdings - As of September 2, the SPDR Gold Trust's holdings rose by 12.88 tons from the previous trading day [6]. - The current total holdings of 990.56 tons represent a substantial increase, reflecting growing investor interest in gold [6]. Group 2: Gold Price Movement - On September 2, spot gold prices surged past $3,500 per ounce, reaching a peak of $3,540.04, and closing at $3,533.35, an increase of $57.04 or 1.64% [6]. - Analysts expect continued increases in gold ETF holdings in the coming week due to the ongoing rise in gold prices [6]. Group 3: Market Drivers - The recent surge in gold prices is attributed to a weakening dollar and expectations of interest rate cuts by the Federal Reserve, particularly following political events affecting the Fed's independence [6]. - UBS forecasts four consecutive rate cuts in the upcoming Federal Reserve meetings, further supporting gold prices [6][7]. Group 4: Technical Analysis - Technical indicators suggest strong potential for gold price increases, with a bullish crossover observed in moving averages [7]. - Short-term resistance is identified at $3,550, with potential challenges to $3,600 and even $4,000 if upward momentum continues [7].

Group 1 - On September 2, spot gold surged to $3,500 per ounce, marking a historic high and a more than 32% increase since the beginning of the year, with a single-day rise of over 1%, the largest daily increase since 2025 [2][3] - The largest gold ETF, SPDR Gold Trust, saw its holdings exceed 1,100 tons, reaching a new high for the year, while global central bank gold purchases increased by 20% year-on-year [3] Group 2 - The surge in gold prices is driven by three major crises: a crisis of trust in the US dollar, the looming threat of stagflation, and escalating geopolitical tensions [5] - The US dollar is facing a credibility crisis, exacerbated by dovish comments from the Federal Reserve Chairman and weak economic data, leading to a 100% market bet on a rate cut in September [5] - Stagflation risks are rising, with persistent global inflation, particularly in the US and Europe, driving investors towards gold as an inflation hedge [5] - Geopolitical tensions, particularly the intensifying Ukraine crisis and attacks on energy facilities, have led to increased safe-haven demand for gold [5] Group 3 - For ordinary investors, it is advisable to consider a phased entry into gold, particularly monitoring the support level at $3,400, while the long-term outlook remains strong with target prices projected between $3,700 and $4,000 [7] - The current gold price surge is viewed as a reflection of global economic fractures rather than a mere wealth game, indicating significant asset testing amid a declining dollar and rising inflation [7]

Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, reported a decrease in holdings to 961.36 tons as of August 14, 2025, reflecting a drop of 2.86 tons from the previous trading day, amid significant adjustments in spot gold prices [5]. Group 1: Gold ETF Holdings - As of August 14, 2025, SPDR Gold Trust's total holdings stand at 961.36 tons [5]. - The holdings decreased by 2.86 tons compared to the previous trading day [5]. Group 2: Market Conditions - On August 14, spot gold prices fell significantly, reaching a low of $3,329.73 per ounce and closing at $3,335.33 per ounce, a decline of $20.69 or 0.62% [5]. - The decline in gold prices is attributed to rising inflation indicators, with the U.S. Producer Price Index (PPI) for July showing a year-on-year increase from 2.3% to 3.3%, the highest level since February [5]. - The month-on-month increase of 0.9% in PPI is the largest since June 2022, driven by soaring service costs [5]. Group 3: Federal Reserve Influence - The rising inflation data has led traders to reduce bets on a rate cut by the Federal Reserve in September, resulting in a rebound of the U.S. dollar and Treasury yields, which in turn suppresses gold prices [5]. - Several Federal Reserve officials, including San Francisco Fed President Mary Daly, have publicly opposed a significant 50 basis point rate cut in September, indicating that such a move could send unnecessary signals [6]. - Analysts suggest that while rate cut expectations are already priced in, gold prices may begin to rise by the end of the year due to concerns over high debt levels [6]. Group 4: Technical Analysis - Technical indicators show that while the Relative Strength Index (RSI) is above the midpoint, it is not sufficient to confirm a new upward trend for gold prices [5]. - The gold price has closed below the 50-day moving average of $3,350, with the next target being the 100-day moving average at $3,302 [5]. - If gold prices continue to decline, they may challenge the July 31 low of $3,274 [5].

Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, reported a holding of 954.8 tons of gold as of July 23, 2025, remaining unchanged from the previous trading day. The gold price experienced a significant drop after reaching a high, influenced by easing trade uncertainties between the US and Japan, which has affected market sentiment and gold prices [6]. Group 1: Gold ETF Holdings - As of July 23, 2025, SPDR Gold Trust holds 954.8 tons of gold, unchanged from the previous day [6]. - The report indicates that the gold ETF holdings have remained stable despite fluctuations in gold prices [6]. Group 2: Market Influences - On July 23, spot gold prices peaked before falling sharply, closing at $3,387.22 per ounce, down $44.44 or 1.30% [6]. - The easing of tariff uncertainties, particularly following the US-Japan trade agreement, has alleviated market concerns, leading to a rise in global stock markets and a subsequent decline in gold prices [6]. - The US-Japan trade agreement set the tariff rate at 15%, lower than the previously feared 25%, which has positively impacted market sentiment [6]. Group 3: Technical Analysis and Price Projections - Analysts suggest that gold may continue to trend upwards, with $3,350 per ounce acting as a support level [7]. - The technical analysis indicates that gold prices have broken through the 23.6% Fibonacci retracement level of the record rebound from April, suggesting a potential upward trajectory [7]. - Immediate resistance levels for gold are identified at $3,400, with further resistance at $3,420 and the June 16 high of $3,452, while downside support is seen at $3,377 and $3,340 [7].

Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, has seen a significant increase in holdings, reaching 954.8 tons, with a notable rise of 7.74 tons in a single trading day, indicating strong investor interest in gold amid economic uncertainties [6]. Group 1: Gold ETF Holdings - As of July 22, the total holdings of the SPDR Gold Trust stand at 954.8 tons, reflecting a substantial increase of 7.74 tons from the previous trading day [6]. - Over the past two trading days, the cumulative increase in gold ETF holdings has exceeded 10 tons, highlighting a growing trend in gold investment [6]. Group 2: Gold Price Movement - On July 22, spot gold prices rebounded for the second consecutive day, reaching a peak of $3433.53 per ounce, the highest since June 16, and closing at $3431.66 per ounce, up $34.73 or 1.02% [6]. - The price of gold is currently above all major simple moving averages (SMA), with the 14-day relative strength index remaining firmly above the midpoint, indicating a bullish trend [7]. Group 3: Economic Factors Influencing Gold - The decline of the US dollar index has been a significant driver for the rebound in gold prices, influenced by uncertainties surrounding trade agreements between the US and other economies such as Japan and the EU [6]. - Concerns over the US economic growth outlook, exacerbated by tariff uncertainties, have led investors to seek refuge in gold, further supporting its price [6]. Group 4: Technical Analysis - Following a strong breakout above the $3400 mark, gold prices are expected to target static resistance at around $3440, with a potential move towards the historical high of $3500 [8]. - Should there be a correction, gold may test the $3377 level, with support likely found around the $3330 area, which coincides with the 21-day and 50-day moving averages [8].

Group 1 - As of July 21, the world's largest gold ETF, SPDR Gold Trust, held 947.06 tons of gold, an increase of 3.43 tons from the previous trading day [2] - On July 21, spot gold rebounded strongly, briefly surpassing $3,400 per ounce, marking the highest level in a month, and ultimately closing at $3,396.93 per ounce, up $47.09 or 1.41% [2] - The significant drop in the US dollar, which fell to a low of 97.70, was a key factor driving the rebound in non-US currencies and spot gold [2] Group 2 - Market expectations suggest that the Federal Reserve will remain on hold until September, despite speculation about earlier rate cuts due to rising economic risks and limited inflation impact from tariffs [3] - The uncertainty surrounding tariffs has increased gold's safe-haven demand, with the US Commerce Secretary expressing confidence in reaching a trade agreement with the EU before the August 1 tariff deadline [3] - Analysts from ANZ Bank noted that high inflation expectations and strong economic data are influencing the anticipated number of rate cuts by the Federal Reserve this year [3] Group 3 - Technically, gold prices are holding above all major simple moving averages (SMA), with the 14-day Relative Strength Index (RSI) rising above the midpoint [3] - The next upward target for gold is the $3,400 level, with a confirmed breakout potentially opening up further upward space towards the static resistance level of around $3,440 [3] - The short-term support level for gold is near $3,330, which coincides with the 21-day and 50-day moving averages [4]

Group 1 - The current total holdings of the world's largest gold ETF, SPDR Gold Trust, stand at 948.5 tons, reflecting a decrease of 2.29 tons from the previous trading day [5] - On July 17, spot gold prices experienced fluctuations, reaching a low of $3,309.76 per ounce, the lowest level since July 10, before closing around $3,338.64 per ounce, down $8.68 or 0.26% [5] - The decline in gold ETF holdings is attributed to the drop in gold prices, which were influenced by market reactions to potential changes in the Federal Reserve leadership [5][6] Group 2 - Recent news indicated that President Trump might soon dismiss Federal Reserve Chairman Powell, which initially caused a spike in gold prices due to a drop in the US dollar, but this was quickly denied by Trump, leading to a price retreat [5] - The ongoing tension between Powell and Trump is expected to continue supporting the gold market, as potential candidates for the Fed chair position have expressed concerns about the Fed's credibility [5][6] - Economic data showed that US retail sales increased by 0.6% in June, reversing a two-month decline, indicating that consumer spending remains strong despite the impact of Trump's tariff policies [6] Group 3 - Technically, gold is trading within a range of $3,310 to $3,370, with an upward trend indicated by positive technical indicators [6] - Short-term resistance levels for gold are identified at $3,365 and $3,377, with a potential challenge to the $3,400 mark if these levels are breached [6] - Conversely, short-term support levels are at $3,320 and $3,000, with further declines potentially targeting $3,280 and $3,250, which is near the July low [6]

Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, reported a holding of 946.51 tons of gold as of July 8, 2025, reflecting a decrease of 1.15 tons from the previous trading day. The decline in gold holdings coincided with a significant drop in spot gold prices, influenced by recent tariff announcements from former President Trump, which have increased risk appetite and pressured gold prices [6]. Group 1: Gold ETF Holdings - As of July 8, 2025, SPDR Gold Trust's total holdings stand at 946.51 tons of gold [6]. - The holdings decreased by 1.15 tons compared to the previous trading day [6]. Group 2: Gold Price Movement - On July 8, spot gold prices fell significantly, reaching a low of $3286.68 per ounce before closing at $3301.56 per ounce, down $34.74 or 1.04% [6]. - The decline in gold prices is attributed to increased risk appetite stemming from tariff news and rising U.S. dollar and bond yields [6]. Group 3: Market Sentiment and Future Outlook - Investors are closely monitoring upcoming U.S. Federal Reserve meeting minutes and key inflation indicators, with expectations of a dovish tone that may lead to interest rate cuts starting in September [7]. - Despite the current bearish sentiment, analysts maintain a long-term bullish outlook on gold due to geopolitical uncertainties and potential buying interest during significant price corrections [7]. - Technical analysis indicates limited upside potential for gold prices, with key support levels at $3270 and $3250, while resistance is noted at $3320 and $3350 [7].