Core Viewpoint - The SPDR Gold Trust, the world's largest gold ETF, reported a total holding of 1,046.64 tons of gold as of November 12, 2025, reflecting a slight increase of 0.28 tons from the previous trading day. The price of spot gold has surged, breaking the $4,200 per ounce mark, driven by a weak dollar and rising expectations of interest rate cuts by the Federal Reserve [7]. Group 1: Gold ETF Holdings - As of November 12, 2025, SPDR Gold Trust's holdings stand at 1,046.64 tons, marking an increase of 0.28 tons from the prior day [7]. - The gold ETF holdings have increased for two consecutive trading days [7]. Group 2: Gold Price Movement - On November 12, spot gold prices reached a high of $4,211.59 per ounce before closing at $4,195.46, reflecting a gain of $68.84 or 1.67% [7]. - Gold prices experienced a brief sell-off, dropping below $4,100 per ounce, but quickly rebounded, establishing $4,100 as a support level for the week [8]. Group 3: Market Drivers - The rise in gold prices is attributed to a weak dollar and heightened expectations for interest rate cuts by the Federal Reserve, alongside concerns over the economic impact of the U.S. government shutdown, which may have reduced GDP growth by 1.5% to 2.0% [7][8]. - Market sentiment is influenced by disappointing employment and consumer confidence data, which have contributed to the bullish trend in gold as a non-yielding asset [8]. Group 4: Technical Analysis - The upward trend in gold prices remains intact, with the path of least resistance pointing upwards. Any pullbacks are likely to be viewed as buying opportunities [8]. - Key resistance levels are identified at $4,250 and $4,300, while short-term support is at $4,161 and $4,100 [9].