SPDR Gold MiniShares Trust (GLDM) News Today

SPDR Gold MiniShares Trust (GLDM) shares have moved higher, supported by ongoing safe-haven demand and institutional buying, though near-term profit-taking and mixed consumption data are tempering gains.

• Bank of America survey sees gold still on path to $4,000 per ounce
• U.S. housing starts fell 9.8% in May, boosting gold’s safe-haven appeal
• Central banks expected to continue buying gold and diversify away from the U.S. dollar
• Currency debasement concerns projected to drive gold prices higher
• Potential breakout if Israel-Iran tensions escalate and the Fed turns dovish
• Gold prices consolidating amid elevated U.S. weekly jobless claims
• Rangebound gold outlook as markets await the Fed’s next move
• Technical analysis highlights key intraday entry levels without clear directional bias
• Momentum needed to challenge the $3,500 resistance level
• Gold remains a crowded trade, limiting immediate upside despite bullish long-term view
• Slight pullback ahead of FOMC results as traders lock in short-term profits
• Citi forecasts gold could drop below $3,000 per ounce by early next year
• China’s gold market cooled in May with weak consumer demand
• Profit-taking pressure mounting as gold extends its YTD rally
• Broader market volatility undermining gold’s traditional safe-haven status

Investors should weigh these drivers carefully: while structural demand and geopolitical risks support GLDM, near-term technical resistance and potential consumption headwinds may cap further upside.