Commodities
Gold Under Pressure: Correction Continues as Inflows Fuel Market Volatility
Gold and silver prices are under pressure as the correction that began several weeks ago continues. The SPDR Gold Shares ETF (GLD) has seen a decline in recent days, with gold finishing last week around $4,360 an ounce.
The situation is unusual for global gold ETFs, which attracted roughly $18 billion in August, the second-largest monthly inflow ever recorded. This influx resulted in holdings rising by 121 metric tons to an all-time high.
However, if the Federal Reserve delivers another rate hike and signals further tightening ahead, gold and silver prices may fall even further. Silver is known for its volatility, so this should not be surprising for investors familiar with it.