The SPDR gold trust’s holding shows that investors are still dumping the precious metal.
The precious metal is on track to record its worst quarterly loss since the end of 2016 and third consecutive weekly loss. The SPDR gold trust’s holding shows that investors are still dumping the precious metal. The data shows the holding stood at 820.51 or in other words down by 1.18 tonnes from the previous business day. The dollar index has lost some of its strength but we have not seen any meaningful move for the precious metal. Given that we have broken the 1250 support, it is likely that the price may test 1235 mark, the 50-day moving average on a quarterly chart.
