Gold Price Plummets Amid Rising Bond Yields and Falling ETF Inflows

The price of gold has plummeted over 27% from its January high, outperforming the stock market. Despite rising geopolitical tensions, demand for gold among American investors has waned this year as many have rotated to the bond sector.

Data shows that the popular SPDR Gold Shares ETF (NYSE:GLD) has had $1.63 billion in outflows in the last 30 days and $7.4 billion in the last three months, with six-month outflows reaching over $12.2 billion.

The iShares Gold Trust (NYSE:IAU) has also suffered significant outflows, with $1.2 billion in the last 30 days and $4.5 billion in the last six months.