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The Kobeissi Letter
BREAKING: The Gold ETF, $GLD, posted a $1.3 billion outflow on Wednesday, the third-largest on record.
This was after the fund experienced a record of ~$1.9 billion daily inflow last week.
As a result, $GLD was the third most-traded ETF on Wednesday, according to Goldman Sachs data.
Moreover, Gold Miners ETF, $GDX, saw a $200 million withdrawal, the worst daily outflow over the last 12 months.
This all comes as gold prices dropped 2.7% on Wednesday, the second-biggest drop this year.
Every historic rally needs a cool-down.
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BREAKING: The Gold ETF, $GLD, posted a $1.3 billion outflow on Wednesday, the third-largest on record.
This was after the fund experienced a record of ~$1.9 billion daily inflow last week.
As a result, $GLD was the third most-traded ETF on Wednesday, according to Goldman Sachs data.
Moreover, Gold Miners ETF, $GDX, saw a $200 million withdrawal, the worst daily outflow over the last 12 months.
This all comes as gold prices dropped 2.7% on Wednesday, the second-biggest drop this year.
Every historic rally needs a cool-down.
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iinvested
1Q'25 SouthernSun Small Cap on $EXTR, $MOD
More fund letters here:
https://t.co/NM0463QOZj https://t.co/s8B8FIihsz
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1Q'25 SouthernSun Small Cap on $EXTR, $MOD
More fund letters here:
https://t.co/NM0463QOZj https://t.co/s8B8FIihsz
tweet