The world's largest gold ETF suffered its largest weekly outflow since 2022
Last week, the world's largest gold ETF, the SPDR Gold Trust, saw outflows of more than $1 billion, the largest weekly outflow since July 2022, as Trump's victory prompted traders to take profits. Spot gold fell 1.9% over the same period. Total gold ETF holdings fell 0.4%, the second consecutive weekly decline. Investors flocked to safe-haven assets last month due to high uncertainty about the US election, but with Trump's victory in key battleground states and Republican control of the Senate, investors exited their positions to profit. Trump's victory also boosted US stocks and the dollar, making gold less attractive to investors holding other currencies. Gold traders continued to take profits on Monday, with prices falling to a one-month low and miners' shares plunging.