Lates News

Concerns about the ongoing US fiscal deficit supported spot gold prices steadily. Pepperstone research strategist Quasar Elizundia stated that investors are reassessing the long-term outlook for US sovereign risk after Moody's downgrade of US credit rating. The demand for safe-haven assets such as gold may increase. However, if ETF funds continue to flow out, the short-term upside potential for gold prices may be limited. He pointed out that last week, a large amount of gold ETF funds flowed out, totaling 30 tons.