Goldman Sachs Physical Gold ETF (AAAU) News Today

Goldman Sachs Physical Gold ETF (BATS: AAAU) is under pressure as the underlying gold market has fallen below the closely watched $4,300-per-ounce level. The main catalyst is stronger-than-expected U.S. economic data, which lifted Treasury yields and the U.S. dollar while increasing expectations for another Federal Reserve rate hike in October. Because AAAU holds physical gold, movements in bullion prices are the primary driver of its performance.

• Positive Sentiment: Longer-term demand remains supportive. Goldman Sachs Research projects gold could reach $4,900 per ounce in 2026, citing strong central-bank purchases and evidence that China bought substantially more bullion than official reports indicated. Goldman Sachs gold price forecast
• Positive Sentiment: China’s gold imports reached record levels through August, while rising gold-backed ETF holdings and broader fiscal concerns suggest structural investment demand may be offsetting the traditional negative effect of high real yields. China gold imports
• Neutral Sentiment: Analysts remain divided on the near-term outlook. TD Securities sees limited downside and a potential move above $5,000, while technical forecasts identify support near $4,300 and resistance around $4,500. A sustained break below support could weaken the bullish setup. TD Securities gold outlook
• Negative Sentiment: The September U.S. flash Composite PMI rose to 58.4, well above expectations, reinforcing the view that the economy remains resilient. Higher yields, a stronger dollar and increased Fed tightening expectations are weighing on gold and, consequently, AAAU. Gold falls after stronger PMI