The world’s largest gold-backed exchange traded fund recorded it biggest weekly outflow in more than two years last week as Donald Trump’s decisive election win prompted traders to book profits.
SPDR Gold Shares (GLD) saw an outflow of over $1 billion, the largest weekly fund outflow since July 2022, according to data compiled by Bloomberg. Spot gold fell 1.9% over the same period. Total gold ETF holdings slipped 0.4%, the second straight weekly decline.