SPDR Gold Shares (GLD) News Today

SPDR Gold Shares (NYSE Arca: GLD) moved lower as gold prices came under pressure from rising U.S. yields, a stronger dollar and growing expectations of further Federal Reserve rate increases. These forces make non-yielding gold less attractive, weighing on the ETF.

• Positive Sentiment: Société Générale sees a potential tailwind from index rebalancing in the new year, estimating it could generate about $3.3 billion in gold buying after the recent decline. Article: Gold could see $3.3 billion in buying on index rebalancing
• Positive Sentiment: BlackRock’s investment strategist said gold continues to benefit from key sources of demand and can diversify portfolios, offering a longer-term supportive view despite near-term weakness. Article: BlackRock on gold and silver demand
• Negative Sentiment: Hot U.S. inflation data pushed Treasury and real yields higher and strengthened the dollar, while markets increased bets on Fed rate hikes. Gold slid below $3,900 an ounce, and analysts warned of further downside; the late-session report said the same pressures continued to weigh on bullion. Article: Gold faces pressure as real yields climb Article: Gold and silver slide as yields surge