Gold ETF sees $1 billion outflow as investors shift focus after Trump election win
The SPDR Gold Trust experienced its largest weekly outflow in over two years, with $1 billion withdrawn from November 4 to November 8. This shift follows Donald Trump's election victory, as investors move away from gold, anticipating a stronger dollar. Gold prices recently peaked at $2,789 per ounce but have since dropped 6%. November is on track to be gold's worst month since September 2023, as market expectations change in response to Trump's economic policies. In contrast, Bitcoin has gained significantly, reaching new highs. Analysts note that the rise in Bitcoin and the decline in gold are linked to perceptions of economic growth under Trump, despite concerns about inflation.