VanEck Merk Gold ETF (OUNZ) News Today

VanEck Merk Gold ETF (NYSEARCA: OUNZ) is trading lower as gold prices retreat below the key $4,300-per-ounce level. The ETF holds physical gold, so its performance is being driven primarily by the sharp move in the underlying precious metal, the U.S. dollar and interest-rate expectations.

• Positive Sentiment: Longer-term demand remains supportive. Goldman Sachs projects gold could reach $4,900 per ounce in 2026, citing strong central-bank purchases and indications that China bought substantially more bullion than official figures reported. Goldman Sachs gold price forecast
• Positive Sentiment: China’s gold imports reached record levels through August, while TD Securities said gold’s longer-term bull market remains intact and could eventually support prices above $5,000 per ounce. TD Securities gold outlook
• Neutral Sentiment: Analysts identify support near $4,300 and resistance around $4,500. A sustained move back above $4,399 could improve the technical outlook, while a break below support would signal additional weakness. Gold technical forecast
• Negative Sentiment: A stronger-than-expected September U.S. composite PMI, which rose to 58.4, lifted Treasury yields and the dollar. Markets consequently increased bets on another Federal Reserve rate hike in October, pressuring non-yielding gold and OUNZ. Gold breaks $4,300 after PMI report
• Negative Sentiment: The stronger dollar and rising bond yields pushed spot gold below $4,300, a technically important support level. Continued Federal Reserve tightening expectations could keep near-term pressure on the ETF. Gold falls below $4,300 on hawkish Fed bets