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The Trust holds gold bars and from time to time, issues Baskets in exchange for deposits of gold and distributes gold in connection with redemptions of Baskets. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trusts expenses. The Sponsor believes that, for many investors, the Shares represent a cost-effective investment in gold.

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Gold prices shattered the $3,500 per ounce mark on Tuesday, reaching a milestone as investors flee to safe-haven assets amid growing economic uncertainty and questions about U.S. monetary policy independence.
What Happened: The precious metal has gained more than 30% this year, demonstrating <a href="https://www.benzinga.com/government/regulations/25/04/44904179/wall-street-sinks-dollar-slides-as-trump-ramps-up-fed-attacks-whats-driving-markets-monday">remarkable resilience despite fluctuations</a> in interest rate expectations, benchmark yields, and inflation data. Monday&#8217;s rally pushed the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) up 2.6% to $314.73.
&#8220;Gold&#8217;s &#8216;all-weather&#8217; characteristic signals something that goes beyond economics, politics, and higher-frequency geopolitical developments,&#8221; wrote Mohamed El-Erian, Allianz Chief Economic Advisor, in a Financial Times opinion <a href="https://www.ft.com/content/b5fb1e6b-bb8d-4ab5-9c92-f1f6fc40a54b">piece</a> on Monday.
El-Erian highlighted consistent central bank purchases as a key driver, noting that countries are gradually diversifying reserves away from dollar dominance while exploring alternatives to the dollar-based payments system that has anchored international finance for eight decades.
See Also: <a href="https://www.benzinga.com/25/04/44915033/tom-lee-says-14-trillion-market-meltdown-matches-annual-trade-deficit-presses-white-house-to-fast-track-deals">Tom Lee Says $1.4 Trillion Market Meltdown Matches Annual Trade Deficit, Presses White House To Fast-Track Deals</a>
Why It Matters: The rally intensified after President Donald Trump renewed criticism of Federal Reserve Chair Jerome Powell on Monday, suggesting the possibility of removing him before his term expires in 2026. These remarks raised concerns about the potential politicization of U.S. monetary policy, sending the U.S. Dollar Index to its <a href="https://www.benzinga.com/government/regulations/25/04/44904179/wall-street-sinks-dollar-slides-as-trump-ramps-up-fed-attacks-whats-driving-markets-monday">lowest level since early 2022</a>.
&#8220;What is at stake here is not just the erosion of the dollar&#8217;s dominant role but also a gradual change in the operation of the global system,&#8221; El-Erian warned, adding that while no single currency is poised to replace the dollar, &#8220;an increasing number of little pipes are being built to go around this core.&#8221;
The gold surge coincides with broader market turmoil, as the S&amp;P 500 fell 2.8% to 5,158 on Monday while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 0.72% to $88,022, mirroring gold&#8217;s momentum as investors seek alternatives to traditional currencies.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Domenico Fornas / Shutterstock.com

$BTC

Gold Tops $3,500 As Investors Flee To Safety: Mohamed El-Erian Warns Of Global System Shift Amid Trump-Powell Tensions

U.S. stocks plummeted Monday as $1.4 trillion in market value vanished, prompting Fundstrat&#8217;s Tom Lee to draw a parallel between the single-day loss and America&#8217;s annual trade deficit.
What Happened: Lee, Head of Research at Fundstrat Global Advisors, highlighted on X that &#8220;the loss in equity market cap today equals 1 &#8216;trade deficit,'&#8221; noting the U.S. 2024 trade deficit for goods was $1.2 trillion. He urged the White House to move with &#8220;expediency to close these trade deals.&#8221;
The market rout saw the S&amp;P 500 tracked by SPDR S&amp;P 500 Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) sink 2.36% to 5,158.20, while the Dow Jones Industrial Average tracked by SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) tumbled 2.48%. The Nasdaq-100, tracked by Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), fell 2.46%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The US 2024 trade deficit for goods was $1.2 trillion. &#8211; the loss in equity market cap today equals 1 "trade deficit" This highlights the White House need for expediency to close these trade deals<a href="https://twitter.com/FundstratCap?ref_src=twsrc%5Etfw">@FundstratCap</a> <a href="https://twitter.com/fs_insight?ref_src=twsrc%5Etfw">@fs_insight</a> <a href="https://twitter.com/hashtag/MondayVibes?src=hash&amp;ref_src=twsrc%5Etfw">#MondayVibes</a> <a href="https://t.co/FYNX8fhF7v">https://t.co/FYNX8fhF7v</a>
&mdash; Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) <a href="https://twitter.com/fundstrat/status/1914452920378019855?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/25/04/44914686/wall-street-consensus-outdated-on-tesla-q1-says-gary-black-stock-price-will-depend-on-affordable-car-commentary-elon-musks-doge-moves">Gary Black Says Wall Street Consensus Outdated On Tesla Q1: Stock Price Will Depend On Affordable Car Commentary, Elon Musk&#8217;s DOGE Moves</a>
Why It Matters: Monday&#8217;s selloff came amid renewed concerns about Federal Reserve independence after President Donald Trump demanded immediate rate cuts and criticized Fed Chair Jerome Powell as &#8220;Mr. Too Late.&#8221; Trump claimed there&#8217;s &#8220;virtually no inflation&#8221; and warned of an economic slowdown without prompt Fed action.
The dollar weakened significantly, with the U.S. Dollar Index hitting its <a href="https://www.benzinga.com/government/regulations/25/04/44904179/wall-street-sinks-dollar-slides-as-trump-ramps-up-fed-attacks-whats-driving-markets-monday">lowest level since early 2022</a>. Meanwhile, alternative assets surged, with SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) rising 2.81% and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gaining 2.42%.
Market volatility spiked with nearly 98% of <a href="https://www.benzinga.com/government/regulations/25/04/44904179/wall-street-sinks-dollar-slides-as-trump-ramps-up-fed-attacks-whats-driving-markets-monday">S&amp;P 500 companies trading lower</a>. Among the few gainers were Fidelity National Information Services Inc. and Discover Financial Services, while healthcare and energy companies like Universal Health Services Inc. and Vistra Corp. suffered the steepest losses.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

SPDR Dow Jones Industrial Average ETF Trust

Tom Lee Says $1.4 Trillion Market Meltdown Matches Annual Trade Deficit, Presses White House To Fast-Track Deals

The SPDR Gold Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NASDAQ">GLD</a>) is up 3.3% to $316.15 during Monday&#8217;s session as investors flee traditional U.S. assets for the session <a href="https://www.benzinga.com/government/regulations/25/04/44904179/wall-street-sinks-dollar-slides-as-trump-ramps-up-fed-attacks-whats-driving-markets-monday">amid rising political instability</a> and inflation concerns. 
What To Know: Gold prices to an <a href="https://www.benzinga.com/government/regulations/25/04/44903750/gold-price-soars-to-record-highs-eyes-best-2-month-rally-since-2011-on-blockbuster-etf-buying">all-time high of $3,410 per ounce</a>, capping a nearly 20% rally since March—GLD's strongest two-month run since 2011.
The surge comes amid renewed doubts over U.S. economic leadership. President Donald Trump's public feud with Fed Chair Jerome Powell, including calls for immediate rate cuts and threats to remove Powell, has rattled markets. This political interference, paired with <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44848474/fed-chair-powell-says-tariffs-lead-to-temporary-rise-in-inflation">ongoing inflation fears</a>, has eroded confidence in the dollar and U.S. Treasuries.
As a result, investors are turning to gold ETFs. GLD alone has seen over <a href="https://www.benzinga.com/government/regulations/25/04/44903750/gold-price-soars-to-record-highs-eyes-best-2-month-rally-since-2011-on-blockbuster-etf-buying">$8.3 billion in inflows since January</a>, highlighting robust institutional and retail demand. <a href="https://www.benzinga.com/general/entertainment/25/04/44905838/netflix-playing-offense-while-stock-plays-defense-6-analysts-on-q1-results-advertising-growth-ahead">Analysts</a> say this rally is structurally driven, not speculative, and may have further room to run—with Goldman Sachs forecasting $3,700 gold by year-end.
With the S&amp;P 500 tumbled 2.9% and the Nasdaq-100 fell 3.1% Monday afternoon, gold remains a rare bright spot, on Monday reaffirming its role as a safe-haven during times of financial and political stress.
Read Also: <a href="https://www.benzinga.com/general/entertainment/25/04/44905838/netflix-playing-offense-while-stock-plays-defense-6-analysts-on-q1-results-advertising-growth-ahead">Netflix &#8216;Playing Offense&#8217; While Stock Plays Defense: 6 Analysts On Q1 Results, Advertising Growth Ahead</a>

Why SPDR Gold Trust (GLD) Is Up 3% Monday

WIIM

Gold is trading higher amid a drop in the US dollar.

Stocks in the U.S. were trading sharply lower by midday Monday, while gold and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged in tandem, as a renewed political storm surrounding Federal Reserve independence shook confidence in the U.S. dollar and triggered a broad-based risk-off <a href="https://www.benzinga.com/government/regulations/25/04/44899280/are-investors-selling-us-treasuries-as-trump-attacks-powell-heres-what-latest-etf-flows-tell-you">mood on U.S. assets.</a>
The market opened the post-Easter trading week with deep losses, after President Donald Trump took to Truth Social demanding immediate rate cuts and blasting Fed Chair Jerome Powell as "Mr. Too Late," accusing him of past political bias and inflation misjudgment. 
Trump wrote that there's "virtually no inflation" and warned of an economic slowdown unless Powell acts "NOW."
The latest barrage reignited fears that central bank independence may be under direct threat, just days after reports emerged that the Trump administration is weighing Powell's removal ahead of his scheduled 2026 term expiration.
The U.S. Dollar Index (DXY) fell as much as 1%, marking its lowest level since early 2022, as the greenback weakened against a basket of major currencies including the Japanese yen, euro and Swiss franc. 
The selloff has intensified speculation that foreign investors may accelerate the repatriation of capital from U.S. assets amid mounting political and monetary instability.
The S&amp;P 500 dropped 2.8% by midday, with the Nasdaq 100 falling 3%, led lower by steep losses in megacap tech and financials. Every major sector was in the red, with 490 of the 500 S&amp;P 500 stocks trading lower.
In another break from historical norms, U.S. Treasury yields climbed even as equities tanked and volatility spiked. The 30-year yield rose 7 basis points to 4.87%, signaling investor selling of government debt. The CBOE Volatility Index (VIX) jumped 15%. 
Gold-linked equities were the few bright spots in an otherwise brutal session. Gold prices – as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) – surged 2.6% to $3,410 per ounce, pushing the year-to-date gain to nearly 30%—on track for the metal's best annual performance since 2007. 
The move extends gold's stunning 2-month rally, now nearing 20%, amid persistent demand for safe-haven assets.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 3.5% to trade at $88,274, echoing gold's momentum as investors seek alternatives to fiat currencies.
Monday&#8217;s Performance In Major US Indices, ETFs
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg (%)</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,837.81</td>
<td>-2.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,097.81</td>
<td>-2.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,135.83</td>
<td>-2.8%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,727.70</td>
<td colspan="2">-3.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 2.8% up to $511.49.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 2.7% to $380.65.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;tumbled 3% to $430.76.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 2.3% to $182.28.</li>
<li>The&nbsp;Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, yet falling 1.4%; the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 3.5%.</li>
</ul>
<h3 class="wp-block-heading">S&amp;P 500&#8217;s Top Performers On Monday</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company Name</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Fidelity National Information Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>)</td>
<td>3.81%</td>
</tr>
<tr>
<td>Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>)</td>
<td>2.89%</td>
</tr>
<tr>
<td>Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>)</td>
<td>1.75%</td>
</tr>
<tr>
<td>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>)</td>
<td>1.02%</td>
</tr>
<tr>
<td>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>)</td>
<td>0.86%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">S&amp;P 500&#8217;s Worst Performers On Monday</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company Name</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Universal Health Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>)</td>
<td>-10.31%</td>
</tr>
<tr>
<td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td>
<td>-8.34%</td>
</tr>
<tr>
<td>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>-8.23%</td>
</tr>
<tr>
<td>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>)</td>
<td>-7.48%</td>
</tr>
<tr>
<td>Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>)</td>
<td>-7.42%</td>
</tr>
</tbody>
</table>
</figure>
Read now: 
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<li><a href="https://www.benzinga.com/news/25/04/44886209/if-you-had-bet-on-gold-after-the-1971-nixon-shock-youd-have-beaten-the-sp-500-unless-you-did-this-one-thing">If You Had Bet On Gold After The 1971 Nixon Shock, You&#8217;d Have Beaten The S&amp;P 500 — Unless You Did This One Thing</a></li>
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Wall Street Sinks, Dollar Slides As Trump Ramps Up Fed Attacks: What's Driving Markets Monday?

Gold surged to fresh all-time highs on Monday, with bullion jumping 2.5% to $3,410 per ounce by 11:20 a.m. ET, as mounting distrust in U.S. financial assets and inflation fears drive a flight to safety unlike anything seen since the global debt crises <a href="https://www.benzinga.com/topic/donald-trump">of the early 2010s.</a>
Since early March, gold prices — tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) — have climbed an astonishing 19.4%, putting the metal on track for its strongest two-month rally since August 2011.
A perfect storm of macro instability, political friction and investor skepticism about the dollar and U.S. Treasuries is fueling the run.
<h1 class="wp-block-heading">What's Behind The Gold Boom?</h1>
The root of gold's dramatic resurgence lies in a potent mix of fundamental, structural and behavioral drivers.
The U.S. dollar and long-duration Treasuries — once go-to safe havens — have come under pressure in recent weeks amid President Donald Trump's tariff offensive and his escalating feud with Fed Chair Jerome Powell, raising fears over political interference and eroding confidence in U.S. institutions.
In this climate, gold's reputation as a neutral, time-tested store of value is attracting capital seeking stability.
As a result, traditional hedges have faltered. But gold, immune to sovereign missteps and backed by centuries of store-of-value status, has emerged as a refuge for capital looking for shelter from rising macro uncertainty.
Read also: <a href="https://www.benzinga.com/government/regulations/25/04/44899280/are-investors-selling-us-treasuries-as-trump-attacks-powell-heres-what-latest-etf-flows-tell-you">Are Investors Selling US Treasuries As Trump Attacks Powell? Here&#8217;s What Latest ETF Flows Tell You</a>
<h1 class="wp-block-heading">Massive Inflows Into Gold ETFs Confirm Strong Investment Demand</h1>
Investor appetite for gold is clearly visible in the massive inflows into gold-backed exchange-traded funds (ETFs) since mid-January, when Trump made his official return to the White House:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ETF Name </th>
<th>Inflows (Mid-January to Mid-April)</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)</td>
<td>$8.35 billion</td>
</tr>
<tr>
<td>iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>)</td>
<td>$3.5 billion</td>
</tr>
<tr>
<td>SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>)</td>
<td>$2.46 billion</td>
</tr>
<tr>
<td>ProShares Ultra Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UGL#NYSE">UGL</a>)</td>
<td>$117 million</td>
</tr>
<tr>
<td>Goldman Sachs Physical Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAAU#NYSE">AAAU</a>)</td>
<td>$304.9 million</td>
</tr>
</tbody>
</table>
</figure>
These blockbuster flows signal broad-based institutional and retail demand. According to Goldman Sachs analyst Lina Thomas, the rally is not being fueled by short-term speculators.
"Data suggests the move has occurred without a substantial return of speculative flows," Thomas said. 
"With estimated COMEX speculative positioning still moderate, we view the rally as structurally supported and less exposed to sharp near-term liquidation risk. Thus, we see current levels as a tactically attractive entry point… and believe this reinforces upside risk to our $3,700/toz year-end forecast."
Ed Yardeni, president of Yardeni Research, said the current momentum validates his call from over a year ago. 
"We&#8217;ve been bullish on gold since it broke out above $2,000 per ounce at the end of February 2024. Our $4,000 target by the end of this year looks increasingly realistic. If that happens, then $5,000 would be our target for the end of 2026."
"This situation may come as a crisis for many assets, but for gold, it's a perfect outcome. Inflation fears remain high as the U.S. stock market loses trillions of dollars, and investors are leaning toward physical gold in search of security rather than risky assets like stocks and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)," said Rick Kanda, managing director at The Gold Bullion Company, in an email.
<h1 class="wp-block-heading">Miners Regain Momentum</h1>
The rally is also lifting gold miners, many of which had lagged physical bullion for much of 2024. Now, they're catching up. "Gold has surged to new all-time highs above $3,000/ounce, driven by renewed flows into gold-backed ETFs and continued strong demand from global central banks," VanEck said Monday.
"At the same time, gold miners are beginning to regain leverage to gold prices, emerging as some of the best-performing stocks so far this year."
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) is up nearly 52% year-to-date, eyeing the strongest annual gain since the fund&#8217;s inception in 2007.
In response to the metal's powerful rally, Bank of America on Monday raised price targets across its North American gold and silver coverage. 
The move comes just ahead of first-quarter earnings season in the precious metals sector, which begins April 23 with Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and continues with Agnico Eagle Mines Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) on April 24.
Here are the new price targets for key names:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>New Target</th>
<th>Previous Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Agnico Eagle Mines </td>
<td>$159</td>
<td>$142</td>
</tr>
<tr>
<td>Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)</td>
<td>$23</td>
<td>$19.50</td>
</tr>
<tr>
<td>Kinross Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>)</td>
<td>$17.50</td>
<td>$15</td>
</tr>
<tr>
<td>Newmont Corp. </td>
<td>$70</td>
<td>$60</td>
</tr>
<tr>
<td>B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>)</td>
<td>$3.10</td>
<td>$2.75</td>
</tr>
<tr>
<td>Centerra Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CGAU#NYSE">CGAU</a>)</td>
<td>$6.50</td>
<td>$5.50</td>
</tr>
<tr>
<td>Eldorado Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGO#NYSE">EGO</a>)</td>
<td>$19.50</td>
<td>$17.25</td>
</tr>
<tr>
<td>IAMGOLD Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAG#NYSE">IAG</a>)</td>
<td>$9.25</td>
<td>$7.75</td>
</tr>
<tr>
<td>SSR Mining Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSRM#NASDAQ">SSRM</a>)</td>
<td>$9.75</td>
<td>$8.50</td>
</tr>
<tr>
<td>Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>)</td>
<td>$35</td>
<td>$30.50</td>
</tr>
<tr>
<td>New Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>)</td>
<td>$4.55</td>
<td>$4.10</td>
</tr>
<tr>
<td>Pan American Silver Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NASDAQ">PAAS</a>)</td>
<td>$32</td>
<td>$27</td>
</tr>
<tr>
<td>Franco-Nevada Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>)</td>
<td>$195</td>
<td>$165</td>
</tr>
<tr>
<td>Royal Gold Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>)</td>
<td>$183</td>
<td>$164</td>
</tr>
<tr>
<td>Triple Flag Precious Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFPM#NYSE">TFPM</a>)</td>
<td>$27</td>
<td>$24</td>
</tr>
<tr>
<td>Wheaton Precious Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPM#NYSE">WPM</a>)</td>
<td>$100</td>
<td>$86</td>
</tr>
</tbody>
</table>
</figure>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/news/25/04/44886209/if-you-had-bet-on-gold-after-the-1971-nixon-shock-youd-have-beaten-the-sp-500-unless-you-did-this-one-thing">If You Had Bet On Gold After The 1971 Nixon Shock, You&#8217;d Have Beaten The S&amp;P 500 — Unless You Did This One Thing</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

CGAU

GOLD

PAAS

RGLD

SSRM

TFPM

Gold Price Soars To Record Highs, Eyes Best 2-Month Rally Since 2011 On Blockbuster ETF Buying

<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2025/04/2025-04-21_08h09_09.png" alt="" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">Fed Independence</h4>
Please <a href="https://thearorareport.com/stock-market-chart-analysis-turbulent-environment-bonds-king-dollar-dxy-mc-04212025">click here</a> for an enlarged chart of the dollar index (DXY).
Note the following:
<ul>
<li>The chart also shows gold ETF SPDR Gold Trust (GLD), Japanese currency yen ETF Invesco CurrencyShares Japanese Yen Trust (FXY), SPDR S&amp;P 500 ETF Trust (SPY), and 20+ year Treasury bond ETF (TLT).</li>
<li>The chart shows that the dollar is falling.</li>
<li>The falling dollar is leading foreigners to sell bonds.&nbsp; The chart shows bond ETF TLT is falling.</li>
<li>Falling bonds are leading to a selloff in stocks in the early trade.&nbsp; The chart shows S&amp;P 500 ETF SPY is falling.</li>
<li>Investors are rushing to buy gold.&nbsp; The chart shows gold ETF GLD is rising.</li>
<li>The chart shows the Japanese yen is rising as many investors see yen as a safe haven.</li>
<li>As full disclosure, gold ETF GLD and Japanese yen ETF FXY are in our ZYX Allocation Model Portfolios.</li>
<li>The foregoing chain reaction was triggered by the Director of the National Economic Council Kevin Hassett saying that President Trump is studying how to fire Fed Chair Powell.</li>
<li>There is a serious legal question regarding the potential firing of Fed Chair Powell.</li>
<li>At this time, it is very important for investors to understand how decisions are being made in the White House and how the Supreme Court is making decisions when the administration&#8217;s actions are challenged.</li>
<li>In our analysis, if Powell is fired, this is how the markets will likely react:
<ul>
<li>The dollar may go lower.</li>
<li>Bonds may go lower.</li>
<li>Gold may go higher.</li>
<li>Japanese yen may go higher.</li>
<li>It is unclear how stocks would react.&nbsp; The reaction in the stock market will come down to who wins the battle:
<ul>
<li>Foreigners and smart money will likely be the sellers.</li>
<li>The momo crowd will likely be buying.</li>
</ul>
</li>
</ul>
</li>
<li>On the positive side, President Trump is working on several trade deals.  In our analysis, the announcement of trade deals can potentially bring significant buying into the stock market. Prudent investors should pay attention to President Trump's pain point. On April 10, we shared with you: &#8220;In our analysis, the foregoing played a role, but the real reason for the tariff reversal was likely the rise in bond yields.&#8221;</li>
</ul>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">In our analysis, yesterday bond yields were getting close to triggering a full blown financial crisis.
</blockquote>
<ul>
<li>In our analysis, the pause in reciprocal tariffs exposed President Trump's pain point.  </li>
<li>In our analysis, prudent investors need to keep an eye on President Trump's pain point – the pain point is long bond yields spiraling towards 5%.  </li>
<li>There is a high probability that President Trump will act before the pain point is reached.</li>
<li>If President Trump decides to act, trade deals may cushion a potential drop in the stock market if Powell is fired.</li>
<li>In our analysis, prudent investors should keep in mind there is a wide range of possible outcomes.  These outcomes range from a rip roaring rally to the stock market breaking below recent lows shown on the fourth pane on the chart.  </li>
<li>Due to the popularity of Tesla Inc (TSLA) with retail investors, moves in TSLA stock impact stock market sentiment.  TSLA stock is adding to the negative sentiment in the early trade on a report that TSLA may delay a new affordable Model Y for the U.S.</li>
<li>Adding to the negative sentiment this morning is a report that Huawei is getting ready to mass ship an AI chip to compete with NVIDIA Corp (NVDA).  China is depending on Huawei to counter U.S. sanctions on Nvidia chips to China.</li>
<li>Data on leading indicators will be released at 10am ET and may be market moving. The consensus is -0.4%.</li>
<li>As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents.  </li>
<li>Any buying at this time should be considered tactical and not strategic.&nbsp; Consider using moderation for any buying.&nbsp;&nbsp;</li>
</ul>
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are negative in Apple Inc (AAPL), Amazon.com, Inc. (AMZN), Alphabet Inc Class C (GOOG), Meta Platforms Inc (META), Microsoft Corp (MSFT), (NVDA), and (TSLA).
In the early trade, money flows are negative in S&amp;P 500 ETF (SPY) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin is seeing buying.
<h4 class="wp-block-heading">Arora Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.  Our proprietary Protection Band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Politics

Opinion

Trading Ideas

Selling On Threat To Powell - Dollar, Stocks, And Bonds Fall; Gold And Yen Rise

A few thematic and leveraged ETFs shone last week, posting solid gains as other markets retreated due to worries over geopolitics and macroeconomic uncertainty. Across the spectrum, from biotech and streaming to crypto and transportation, some funds flashed decent returns.
T-Rex 2X Long DJT Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/DJTU#BATS">DJTU</a>) jumped 33.5%, the week&#8217;s best performer as the Dow Jones Transportation Average recovered on Thursday.
Defiance Daily Target 2X Long LLY ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLYX#NYSE">LLYX</a>) rose 22.3% as Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) shares soared 11.34%. Investors remain optimistic about the company&#8217;s blockbuster weight-loss and diabetes medications, which continue to drive revenue growth and provide robust forward guidance.
Direxion Daily NFLX Bull 2X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFXL#NASDAQ">NFXL</a>) gained 8.8%, echoing the<a href="https://www.benzinga.com/general/entertainment/25/04/44877995/netflix-crushes-q1-says-its-working-hard-to-improve-and-expand-its-offering"> robust quarterly performance</a> of Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>). The streaming behemoth surpassed Wall Street expectations, with the increase in its ad-supported plan and better content performance providing bulls a reason to rejoice.
SPDR Galaxy Digital Asset Ecosystem ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DECO#NASDAQ">DECO</a>) gained 5.5% as stabilizing Bitcoin prices and increasing institutional interest in digital asset infrastructure supported it. Favorable sentiment in the overall crypto market helped support the fund&#8217;s holdings in blockchain and crypto-exposed assets.
Yieldmax MSTR Option Income Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSTY#NYSE">MSTY</a>) increased by 3%, taking advantage of MicroStrategy&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) solid performance and consistent returns earned from its options-based income strategy based on Bitcoin.
These ETF profits were impressive compared to the broader market&#8217;s losses during the last holiday-shortened week.
What Happened In The Markets Last Week
Markets were rattled by fresh geopolitical tensions and hawkish central bank commentary. The largest drag was from the technology sector, following Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) announcement that it had been informed by the Trump administration that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44886016/nvidias-do-not-enter-sign-caught-in-a-category-5-tariff-storm">exports of its H20 AI chip to China </a>would need a license. The firm warned that the export controls would lower earnings by $5.5 billion, pushing its shares down 8.5%. The news also <a href="https://www.benzinga.com/25/04/44799456/chip-shock-3-hot-semiconductor-etfs-to-watch-as-trumps-tariff-bomb-ticks">affected the wider chip industry</a>, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) losing 3%—its seventh loss in the last eight weeks.
Earnings were mixed. While banks and Netflix reported positive results, UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) surprised markets by cutting its full-year forecast. The stock lost 22.4% in one session—the worst one-day decline for the insurer since 1998.
On the trade side, Canada temporarily paused counter measure tariffs on critical U.S. imports to relieve cross-border supply chain stress—most notably helping Midwest-based auto manufacturers.
Meanwhile, Federal Reserve Chairman Jerome Powell again expressed reluctance to cut interest rates, citing lingering inflation and risks to trade-driven growth. President Donald Trump condemned the move, calling Powell &#8220;always too late&#8221; and threatening to fire him before his term ends in May 2026. Trump spoke against a backdrop of irritation over the European Central Bank&#8217;s sixth consecutive interest rate reduction, further amplifying the divergence of monetary policies in developed nations.
Against this background of policy uncertainty and volatility, gold was the shining star. The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) jumped to an all-time high of $3,330 per ounce, recording gains in 14 of the last 16 weeks, as investors flocked to the yellow metal for safety.
While headwinds beset the overall market, last week&#8217;s ETF action highlights where momentum—and investor confidence—is still present.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44876466/the-10k-handbag-hoax-tiktoks-trade-war-puts-luxury-etfs-in-the-hot-seat">The $10K Handbag Hoax? TikTok&#8217;s Trade War Puts Luxury ETFs In The Hot Seat</a></li>
</ul>
Photo: Shutterstock

DECO

DJTU

LLYX

MSTR

Tidal Trust II YieldMax MSTR Option Income Strategy ETF

MSTY

NFXL

NVDA

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

ETFs Last Week: Thematic ETFs Gleamed Against Market Gloom

On Thursday, April 17, U.S. markets closed mixed as investors balanced progress in trade talks with ongoing concerns about interest rates. Optimism followed positive comments on trade negotiations, but uncertainty remained about future deals. While some sectors saw gains, the broader market experienced declines over the week. Traders are focused on upcoming trade discussions and potential actions from the central bank.
In economic data, U.S. housing starts decreased by 11.4% month-over-month to an annualized rate of 1.324 million in March. Initial jobless claims fell by 9,000 to 215,000 in the second week of April, better than the expected 225,000. The Philadelphia Fed Manufacturing Index dropped by 39 points to -26.4 in April, well below the expected 2.
Most sectors on the S&amp;P 500 closed higher, led by energy, consumer staples, and real estate, while information technology and healthcare ended lower.
The Dow Jones Industrial Average declined 1.33% to 39,142.23, the S&amp;P 500 rose 0.13% to 5,282.70, and the Nasdaq Composite slid 0.13% to close at 16,286.45.
Asia Markets Today
<ul>
<li>On Monday, Japan&#8217;s Nikkei 225 fell 1.30% to close at 34,279.50, led by losses in the Paper &amp; Pulp, Transport and Communication sectors.</li>
<li>Australian markets are closed for the Easter holiday.</li>
<li>India&#8217;s Nifty 50 was up 1.11% at 24,119.25, and Nifty 500 rose 1.45% to 21,994.95.</li>
<li>China&#8217;s Shanghai Composite rose 0.45% to 3,291.43, while Shanghai Shenzhen CSI 300 gained 0.33% to 3,784.88.</li>
<li>Hong Kong markets are closed for the Easter holiday.</li>
</ul>
Eurozone at 05:45 AM ET
<ul>
<li>European markets closed for the Easter holiday.</li>
</ul>
Commodities at 05:45 AM ET
<ul>
<li>Crude Oil WTI was trading lower by 2.91% at $62.15/bbl, and Brent was down 2.80% at $66.05/bbl.</li>
<li>Oil prices dropped on Monday amid positive U.S.-Iran talks and concerns over an economic slowdown caused by tariffs. Lower liquidity and fears of reduced fuel demand heightened market volatility.</li>
<li>Natural Gas fell 0.96% to $3.216.</li>
<li>Gold was trading higher by 2.34% at $3,406.26, Silver was up 1.12% to $32.835, and Copper rose 0.87% to $4.7803.</li>
<li>Gold prices hit a new record on Monday, rising due to a weaker dollar, geopolitical tensions, and uncertainty surrounding U.S. Federal Reserve policy.        </li>
</ul>
U.S. Futures at 05:45 AM ET
Dow futures were down 0.98%, S&amp;P 500 futures declined 1.12% and Nasdaq 100 futures fell 1.20%.
Forex at 05:45 AM ET
<ul>
<li>The U.S. Dollar Index slipped 1.29% to 99.19, USD/JPY was down 1.07% to 140.65, and USD/AUD fell 0.18% to 1.5653.</li>
<li>The dollar fell sharply on Monday, hitting decade-lows against the Swiss franc and yen, as concerns grew over President Trump&#8217;s plans to challenge the independence of the Federal Reserve.</li>
</ul>
Photo by FOTOGRIN via Shutterstock

Emerging Markets

Eurozone

Futures

Forex

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Gold Rallies To Record, Dollar Drops - Global Markets Today While US Slept

China&#8217;s central bank continued to accumulate gold, adding 5 tonnes to its stash in March, marking its 5th consecutive monthly purchase. 
What Happened: On Sunday, The Kobeissi Letter, a popular capital markets newsletter posted on X, stating that China&#8217;s Central Bank has purchased gold for the 5th straight month, adding 5 tonnes in March, and bringing its total gold reserves to a record 2,292 tonnes.
See More: <a href="https://www.benzinga.com/personal-finance/25/04/44891276/the-average-household-is-a-millionaire-with-a-1-06-million-net-worth-according-to-the-fed-so-why-do-people-still-feel-broke">The Average Household Is A Millionaire With A $1.06 Million Net Worth, According To The Fed — So Why Do People Still Feel Broke?</a>
It adds that gold now accounts for 6.5% of the nation&#8217;s official reserve assets, having purchased a &#8220;whopping&#8221; 50 tonnes of the yellow metal in February, more than 10 times what was officially reported, according to Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>).
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: China's central bank increased its gold holdings by 5 tonnes in March, posting their 5th consecutive monthly purchase. This brings total China's gold reserves to a record 2,292 tonnes. Chinese gold holdings now reflect 6.5% of its total official reserve assets.… <a href="https://t.co/LuwiBvnirn">pic.twitter.com/LuwiBvnirn</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1913996067298779581?ref_src=twsrc%5Etfw">April 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to the post, China has been accumulating gold at a rapid pace, with its purchases on the London OTC market significantly above officially reported numbers.
Why It Matters: Growing central bank demand has sent gold to record highs in recent weeks, and analysts at Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) continue to revise their targets upwards for the commodity, citing <a href="https://in.benzinga.com/25/03/44569258/gold-market-rallies-amid-inflation-concerns-and-trade-uncertainty">trade war uncertainties</a> and a weaker U.S. Dollar.
Gold prices are also seeing momentum from growing ETF inflows, with global gold <a href="https://benzinga.com/25/04/44759336/gold-soars-beyond-3200-as-etfs-achieve-record-inflows-in-q1">ETFs adding $21 billion</a> in the first quarter of 2025, marking their second-highest quarterly inflow since the COVID-19 pandemic in 2020, as investors pursue safe-haven assets amid global market turmoil. 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Stock / ETF</td>
<td>Year-to-Date</td>
<td>52-Week Range</td>
</tr>
<tr>
<td>SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)</td>
<td>+$60.70 (+24.73%)</td>
<td>$210.71 &#8211; $309.31</td>
</tr>
<tr>
<td>iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>)</td>
<td>+$12.44&nbsp;(+24.79%)</td>
<td>$43.06 &#8211; $63.32</td>
</tr>
<tr>
<td>VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>)</td>
<td>+$15.58&nbsp;(+44.09%)</td>
<td>$32.20 &#8211; $52.81</td>
</tr>
<tr>
<td>VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>)</td>
<td>+$19.29&nbsp;(+43.03%)</td>
<td>$39.88 &#8211; $66.17</td>
</tr>
<tr>
<td>Franklin Responsibly Sourced Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FGDL#NYSE">FGDL</a>)</td>
<td>+$8.97&nbsp;(+25.27%)</td>
<td>$30.55 &#8211; $45.00</td>
</tr>
</tbody>
</table>
</figure>
With the &#8220;Simultaneous Collapse&#8221; is U.S. assets, with equities, Treasuries, and the dollar, all <a href="https://www.benzinga.com/markets/equities/25/04/44756751/full-spectrum-collapse-top-bank-rings-alarm-over-simultaneous-fall-of-us-assets">falling in tandem</a>, gold remains one of the few remaining places of refuge for investors across the globe.
Photo Courtesy: humphery on Shutterstock.com
Read More: <a href="https://www.benzinga.com/markets/25/04/44891073/donald-trumps-trade-war-jpmorgan-predicts-deals-higher-taxes-and-potential-recession-avoidance">Donald Trump&#8217;s Trade War: JPMorgan Predicts Deals, Higher Taxes and Potential Recession Avoidance</a>

China's Central Bank's Gold Stash Spikes To 2,292 Tonnes And Beijing Is Still Buying

Wall Street wrapped up a shortened trading week ahead of the Easter holiday in the red, weighed down by fresh export restrictions on chips to China that sent tech <a href="https://www.benzinga.com/topic/chipmakers">and semiconductor stocks tumbling.</a>
On Tuesday, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) revealed it was notified by the Trump administration on April 9 that its H20 AI chip would now require an export license to be sold in China. The company warned that these tighter controls could slash its <a href="https://www.benzinga.com/government/regulations/25/04/44846329/nvidias-china-sales-face-setback-as-h20-chip-restrictions-catch-key-buyers-off-guard-reuters">earnings by $5.5 billion.</a>
Nvidia shares dropped 8.5% this week, erasing nearly half of the previous week&#8217;s gains. The broader semiconductor sector – as tracked by the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) – followed suit, sliding 3% and logging its seventh weekly decline <a href="https://www.benzinga.com/general/health-care/25/04/44860240/unitedhealth-slashes-2025-outlook-on-medicare-funding-reductions-stock-crashes">out of the past eight.</a>
First-quarter earnings season delivered a mixed bag. While banks and streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) showed solid performance, UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) shocked investors by slashing its full-year guidance far below Wall Street expectations.
UnitedHealth shares plummeted 22.4% on Thursday, marking their worst one-day drop since 1998.
In trade news, Canada announced a six-month suspension of countermeasure tariffs on select U.S. goods essential for domestic manufacturing and food packaging. This move is expected to ease cross-border supply chain pressures, particularly<a href="https://www.benzinga.com/25/04/44816653/canada-eases-retaliatory-tariffs-on-us-goods-as-trade-tensions-thaw-under-softer-trump-stance-stocks-react"> benefiting Michigan-based automakers.</a>
On the macro front, Federal Reserve Chair Jerome Powell flagged inflation and growth risks stemming from trade tariffs, reiterating the Fed&#8217;s cautious stance and signaling that rate cuts <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44848474/fed-chair-powell-says-tariffs-lead-to-temporary-rise-in-inflation">won&#8217;t come prematurely.</a>
This cautious tone triggered an angry response from President Donald Trump, who blasted Powell as "always too late" on rate cuts and hinted at prematurely removing him from office, despite Powell's term <a href="https://www.benzinga.com/government/regulations/25/04/44862662/trump-pressures-fed-as-ecb-delivers-7th-straight-rate-cut">running through May 2026.</a>
Meanwhile, the European Central Bank executed its sixth consecutive rate cut, further fueling Trump's public frustration with the Fed. During an Oval Office meeting with Italian Prime Minister Giorgia Meloni, Trump doubled down, declaring that Powell &#8220;will be out <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44875406/hell-be-out-if-i-ask-him-can-trumps-threat-to-oust-powell-shake-the-fed">if the President asks.&#8221;</a>
Gold continues to defy gravity, fueled by strong investor demand, heightened policy uncertainty, and persistent central bank buying.
Bullion prices – as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) – soared to $3,330 per ounce, marking a new all-time high and extending gains to 14 of the past 16 weeks.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44885051/netflix-beats-wall-street-forecasts-yet-goldman-sachs-sees-limited-upside-ahead">Netflix Beats Wall Street Forecasts, Yet Goldman Sachs Sees Limited Upside Ahead</a></li>
</ul>
Image: Shutterstock/Westlight

Earnings

Tech

Trump Blasts Powell, Nvidia Tumbles On New Export Ban, Gold Defies Gravity: This Week In Markets

<ul>
<li>NVDA</li>
<li>UNH</li>
<li>TSLA</li>
<li>GLD</li>
<li>GOOGL</li>
<li>TSM</li>
<li>HTZ</li>
<li>BULL</li>
<li>NFLX</li>
<li>AAPL</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

AAPL

BULL

GOOGL

TSLA

Top 10 Trending Stocks On WallStreetBets As Of April 17, 2025 (Via Swaggy Stocks)

Broad Market Declines 2.25% as GLD rises after Alert From TradePulse
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/16203552/Screenshot-2025-04-16-at-4.35.29%E2%80%AFPM-1024x786.png" alt="" class="wp-image-10860" style="width:920px;height:auto" /></figure>
SPDR Gold Trust (GLD) today experienced a Power Inflow, a significant event for those who follow where smart money goes and value order flow analytics in their trading decisions. 
Today, at 10:09 AM on April 16th, a significant trading signal occurred for SPDR Gold Trust (GLD) as it demonstrated a Power Inflow at a price of $305.32. This indicator is crucial for traders who want to know directionally where institutions and so-called "smart money" moves in the market. They see the value of utilizing order flow analytics to guide their trading decisions. The Power Inflow points to a possible uptrend in GLD&#8217;s stock, marking a potential entry point for traders looking to capitalize on the expected upward movement. Traders with this signal closely watch for sustained momentum in GLD&#8217;s stock price, interpreting this event as a bullish sign.
Signal description
Order flow analytics, aka transaction or market flow analysis, separate and study both the retail and institutional volume rate of orders (flow). It involves analyzing the flow of buy and sell orders, along with size, timing, and other associated characteristics and patterns, to gain insights and make more informed trading decisions. This particular indicator is interpreted as a bullish signal by active traders.&nbsp;
The Power Inflow occurs within the first two hours of the market open and generally signals the trend that helps gauge the stock&#8217;s overall direction, powered by institutional activity in the stock, for the remainder of the day.&nbsp;
By incorporating order flow analytics into their trading strategies, market participants can better interpret market conditions, identify trading opportunities, and potentially improve their trading performance. But let's not forget that while watching smart money flow can provide valuable insights, it is crucial to incorporate effective risk management strategies to protect capital and mitigate potential losses. Employing a consistent and effective risk management plan helps traders navigate the uncertainties of the market in a more controlled and calculated manner, increasing the likelihood of long-term success
If you want to stay updated on the latest options trades for GLD, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts. 
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data brought to you by Benzinga APIs</a> and include firms, like <a href="https://tradepulse.net/?utm_source=benzinga&amp;utm_medium=article&amp;utm_campaign=brand_awareness_apr2025">https://tradepulse.net/?utm_source=benzinga&amp;utm_medium=article&amp;utm_campaign=brand_awareness_apr2025</a>, which are responsible for parts of the data within this article. 
&#xA9; 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
After Market Close UPDATE:
The price at the time of the Power Inflow was $305.32. The returns on the High price ($308.06) and Close price ($307.47) after the Power Inflow are respectively 0.9% and 0.7%. The result underlines the importance of a trading plan that includes Profit Targets and Stop Losses that reflect your risk appetite.
Results are not indicative of future results

Technicals

Signals

SPDR Gold Shares Up ~1% After Key Signal

On Wednesday, April 16, U.S. markets closed lower after Nvidia warned of $5.5 billion in charges from new U.S. export curbs to China. Federal Reserve Chair Jerome Powell pointed to slowing economic growth and rising inflation risks due to tariffs, further weighing on investor sentiment amid ongoing U.S.-China trade tensions.
According to economic data, U.S. industrial production declined by 0.3% in March, slightly worse than the expected drop of 0.2%. However, retail sales rose 1.4% month-over-month, surpassing the previous month&#8217;s 0.2% increase and the forecasted 1.3% gain.
Related: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/04/44850992/stocks-sink-as-powell-dismisses-fed-put-safety-net-gold-extends-massive-lead-over-nasdaq" rel="noreferrer noopener">Stocks Sink As Powell Dismisses &#8216;Fed Put&#8217; Safety Net, Gold Extends Massive Lead Over Nasdaq</a>
Most S&amp;P 500 sectors closed lower, with consumer discretionary, information technology, and communication services leading the losses, while energy stocks bucked the trend and finished higher.
The Dow Jones Industrial Average declined 1.73% to 39,669.39, the S&amp;P 500 fell 2.24% to 5,275.70, and the Nasdaq Composite slid 3.07% to close at 16,307.16.
Asia Markets Today
<ul>
<li>On Thursday, Japan&#8217;s Nikkei 225 rose 1.35% to close at 34,379.00, led by gains in the Real Estate, Banking, and Textile sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 was up 0.78% and closed at 7,819.10, led by gains in the Energy, Resources and Metals &amp; Mining sectors.</li>
<li>India&#8217;s Nifty 50 was up 1.77% at 23,851.85, and the Nifty 500 rose 1.30% at 21,681.30.</li>
<li>China&#8217;s Shanghai Composite rose 0.13% to 3,280.34, while Shanghai Shenzhen CSI 300 declined 0.02% to 3,772.22.</li>
<li>Hong Kong&#8217;s Hang Seng Index gained 1.61% to 21,395.14.</li>
</ul>
Eurozone at 05:45 AM ET
<ul>
<li>The European STOXX 50 was down 0.749%.</li>
<li>Germany&#8217;s DAX declined 0.31%.</li>
<li>France&#8217;s CAC 40 fell 0.52%.</li>
<li>U.K.&#8217;s FTSE 100 index traded lower by 0.70%.</li>
</ul>
Commodities at 05:45 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 1.09% at $63.15/bbl, and Brent was up 0.93% at $66.44/bbl.</li>
<li>Oil prices rose on Thursday due to supply concerns following new U.S. sanctions on Iranian oil exports. Brent crude increased, while U.S. West Texas Intermediate also saw gains, both on track for weekly rises.       </li>
<li>Natural Gas rose 0.34% to $3.258.</li>
<li>Gold was trading lower by 0.29% at $3,336.61, Silver was down 1.83% to $32.378, and Copper fell 2.22% to $4.5815.</li>
<li>Gold prices dipped from record highs on Thursday as investors took profits, and U.S. Fed Chair Powell&#8217;s hawkish comments reduced sentiment. Silver and platinum also fell amid geopolitical and inflation concerns.</li>
</ul>
U.S. Futures at 05:45 AM ET
Dow futures were up 0.89%, S&amp;P 500 futures gained 0.95%, and Nasdaq 100 futures rose 1.04%.
Forex at 05:45 AM ET
<ul>
<li>The U.S. dollar index gained 0.23% to 99.50, the USD/JPY rose 0.56% to 142.71, and the USD/AUD rose 0.26% to 1.5737.</li>
<li>The U.S. dollar edged higher Thursday, supported by hawkish comments from Federal Reserve Chairman Jerome Powell. Powell noted the slowing U.S. economic growth and inflation risks due to tariffs but emphasized the Fed&#8217;s cautious stance, leading to a slight bounce in the greenback.</li>
</ul>
Photo via Shutterstock

Asia Markets Gain, Europe Slides, Crude Prices Up On Iranian Sanctions - Global Markets Today While US Slept

Gold prices have been scaling fresh highs amid the global market uncertainty, however, some experts point out that a severe correction could be looming amid this gold bull run.
What Happened: While the Gold Spot U.S. Dollar has scaled a fresh high at $3,357.81 per ounce and trades above the 3,300-mark, experts have now started cautioning against this bull run.
According to Patrick Karim, the co-founder of NorthstarBadcharts.com, gold undergoes corrections even during bull markets.
The data shared by him shows that gold prices underwent a correction of over 48% during December 1974 to August 1976, 33% during March 2008 to October 2008, and 22% between August 2020 to September 2022.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I know, gold bulls don&#39;t want to read this right now&#8230; But even during bull markets, gold had these corrections: Dec 1974 to Aug 1976, drop over 48%. Mar 2008 to Oct 2008, drop over 33%. Aug 2020 to Sep 2022, drop over 22%. Same setup now with price historically stretched. <a href="https://t.co/FgRd6uJh6D">pic.twitter.com/FgRd6uJh6D</a>
&mdash; Patrick Karim (@badcharts1) <a href="https://twitter.com/badcharts1/status/1912633618435887502?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, the CEO of Cardone Capital, Grant Cardone said, &#8220;gold acting like we in depression. Rates will drop like rock.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">gold acting like we in depression. Rates will drop like rock &#x2b07;&#xFE0F; <a href="https://t.co/zy09KAdhYd">pic.twitter.com/zy09KAdhYd</a>
&mdash; Grant Cardone (@GrantCardone) <a href="https://twitter.com/GrantCardone/status/1912618410497782149?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to data shared by Charlie Bilello of Creative Planning, the inflation-adjusted gold prices were back at an all-time high, after 45 years, surpassing the prior peak from 1980.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It took 45 years to get there, but inflation-adjusted Gold prices are back at an all-time high, surpassing the prior peak from 1980. <a href="https://twitter.com/search?q=%24GOLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOLD</a><a href="https://t.co/l5IYmkeySJ">https://t.co/l5IYmkeySJ</a> <a href="https://t.co/bXWisvrl3c">pic.twitter.com/bXWisvrl3c</a>
&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1912558536573268362?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Economist Mohamed El-Erian said that the rise in gold prices was a result of the slow and steady diversification away from the dollar by some foreign central banks and others.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The price of gold registered another record high today, overcoming yet another periodic round of profit-taking by some tactical traders — this as it benefits from the tailwind of slow and steady diversification away from the dollar by some foreign central banks and others.<a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a>… <a href="https://t.co/MKDnxZddv0">pic.twitter.com/MKDnxZddv0</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1912523089557987357?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This was also confirmed by a study titled ‘Dollar Upheaval: This Time is Different&#8217;. The note written by five experts concluded that investors "(i) question the safety of the dollar, not just Treasuries, and (ii) that they perceive these changes to be long-lasting."
"Normally, in times of global volatility… the dollar appreciates as dollar-denominated assets benefit from a flight to safety. Not this time around," the note stated.
Thus, it is evident that investors were preferring gold as a safe-haven asset over the U.S. Treasuries of the U.S. dollar.
See Also: <a href="https://www.benzinga.com/25/04/44834505/scott-bessent-affirms-china-wont-weaponize-us-treasuries-as-it-would-weaken-their-currency-affecting-exports-we-do-buybacks">Scott Bessent Says China Won&#8217;t &#8216;Weaponize&#8217; US Treasuries, Citing Risk To RMB And Exports: &#8216;We Do Buybacks&#8217;</a>
Why It Matters: The Gold Spot US Dollar price has rallied 27% from $2,623.81 on Dec. 31, 2024, to $3,332.16 per ounce as of today. 
When compared with data from over 25 years, gold prices have skyrocketed 1056% from $288.25 on Dec. 31, 1999. In comparison, the S&amp;P 500 index has risen by 259.1% from 1,469.25 on Dec. 31, 1999, to 5,275.70 as of Wednesday&#8217;s close.
Gold prices were on pace to score their best year since 1979, when the prices rallied 126.5% on a year-to-date basis.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Gold hit another all-time high today and is now up over 27% in 2025. On pace for its best year since 1979.<a href="https://t.co/l5IYmkeySJ">https://t.co/l5IYmkeySJ</a> <a href="https://t.co/qrnwssFL0X">pic.twitter.com/qrnwssFL0X</a>
&mdash; Charlie Bilello (@charliebilello) <a href="https://twitter.com/charliebilello/status/1912676841199935975?ref_src=twsrc%5Etfw">April 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: The gold price was down 0.54% at $3,332.16 as of the publication of this article. Following Gold ETFs have also done well during this bull run.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Gold ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Franklin Responsibly Sourced Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FGDL#NYSE">FGDL</a>)</td>
<td>25.78%</td>
<td>40.86%</td>
</tr>
<tr>
<td>Goldman Sachs Physical Gold ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/AAAU#BATS">AAAU</a>)</td>
<td>25.37%</td>
<td>40.32%</td>
</tr>
<tr>
<td>GraniteShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAR#NYSE">BAR</a>)</td>
<td>25.42%</td>
<td>40.40%</td>
</tr>
<tr>
<td>VanEck Merk Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUNZ#NYSE">OUNZ</a>)</td>
<td>25.24%</td>
<td>40.15%</td>
</tr>
<tr>
<td>SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)</td>
<td>25.28%</td>
<td>40.02%</td>
</tr>
<tr>
<td>iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>)</td>
<td>25.38%</td>
<td>40.28%</td>
</tr>
<tr>
<td>SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>)</td>
<td>25.41%</td>
<td>40.45%</td>
</tr>
<tr>
<td>abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>)</td>
<td>25.32%</td>
<td>40.30%</td>
</tr>
<tr>
<td>iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>)</td>
<td>25.49%</td>
<td>40.60%</td>
</tr>
<tr>
<td>Invesco DB Precious Metals Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBP#NYSE">DBP</a>)</td>
<td>21.48%</td>
<td>29.06%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell on Wednesday. The SPY was down 2.22% to $525.66, while the QQQ declined 3.02% to $444.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Thursday, the Dow Jones futures were up 1.04%, whereas the S&amp;P 500 index rose 1.19% and the Nasdaq 100 advanced 1.21%.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44836076/gold-fund-inflows-smash-record-with-80-billion-in-2025-these-etfs-are-riding-the-3300-surge">Gold Fund Inflows Smash Record With $80 Billion In 2025 — These ETFs Are Riding The $3,300 Surge</a></li>
</ul>
Photo courtesy: Shutterstock

Treasuries

Gold Nears $3,400 Mark, Experts Point To Likely 'Correction' Amid Bull Market: 'Rates Will Drop Like Rock'

Gold has long been a cornerstone of personal finance strategies, prized for its role as a hedge against inflation and economic uncertainty. Investors have two primary avenues to gain exposure to gold: purchasing physical gold or investing in gold exchange-traded funds. 
Each approach offers unique advantages and drawbacks, making the right choice dependent on financial goals, risk tolerance and <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44836846/wall-streets-mood-turns-bleak-as-global-recession-fears-mount-fund-managers-slash-us-exposure">investment horizon.</a>
Physical Gold: Physical gold refers to tangible assets, such as gold bars, coins and jewelry. An investment in physical gold is appealing to some investors as it is independent of banks or financial institutions with no digital records or intermediaries involved. Gold's intrinsic value and historical role as a store of wealth also make it appealing for generational wealth transfer.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/global/25/04/44841158/hongkong-post-stops-us-package-service-china-e-commerce-stocks-drop">Hongkong Post Stops US Package Service, China E-Commerce Stocks Drop&nbsp;</a>
"Amidst the recent stock market turbulence, we're seeing renewed interest in tangible, physical assets that exist outside traditional financial structures," Tim Schmidt, the founder of Gold IRA Custodians,<a href="https://www.cnbc.com/2025/04/11/is-this-a-good-time-to-buy-gold-experts-weigh-in.html"> told </a>CNBC.&nbsp;
However, the costs of secure storage and insurance can be high and the market for physical gold can be relatively illiquid with transactions sometimes incurring delays before a buyer or seller can be found. Also, physical gold does not generate interest or dividends so returns can only be realized when the gold is sold.&nbsp;
Gold ETFs: Investing in a gold-focused <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44836076/gold-fund-inflows-smash-record-with-80-billion-in-2025-these-etfs-are-riding-the-3300-surge">exchange-traded fund </a>can provide investors with exposure to gold's price movements without the need to own or store the metal directly.&nbsp;
"For most [investors], I would say a gold bullion-backed ETF makes the most sense," Sameer Samana, head of global equities and real assets at the Wells Fargo Investment Institute, told CNBC.
Both the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) and iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), are backed by physical gold bullion held in secure vaults, and each share represents a specific amount of gold. 
Investors can also find exposure to gold through the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), tracking the performance of the NYSE Arca Gold Miners Index, and the VanEck Junior Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDXJ#NYSE">GDXJ</a>) which focuses on smaller, early-stage gold miners, offering higher growth potential but increased volatility. 
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Photo: Shutterstock

Movers

Personal Finance

Gold Hits New Record Highs As Safe-Haven Demand Climbs: 2 Ways To Invest

<ul>
<li>NVDA</li>
<li>GLD</li>
<li>TSLA</li>
<li>ASML</li>
<li>BULL</li>
<li>MAGA</li>
<li>AMD</li>
<li>AAPL</li>
<li>META</li>
<li>BA</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

ASML

MAGA

Top 10 Trending Stocks On WallStreetBets As Of April 16, 2025 (Via Swaggy Stocks)

Investor confidence is unraveling at a pace not seen in years, with recession odds climbing, U.S. equity allocations collapsing and cash piles swelling, signaling one of the most bearish market outlooks in a quarter-century.
In a note shared Tuesday, Bank of America's Michael Hartnett said April's Global Fund Manager Survey (FMS) revealed the fifth most bearish sentiment recorded in 25 years.
With global growth expectations at 30-year lows and fears of a trade war-induced recession surging, the market narrative has flipped sharply from optimism to caution.
&#8220;The current level of sentiment is the 5th&nbsp;lowest on record (behind 2001, 2009, 2019 and 2022),&#8221; Hartnett wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;BofA Global FMS [Fund Manager Survey} investor sentiment sinks to 5th lowest level on record&quot;. &lt;My take: Other notable low levels were near the GFC and 2022 <a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> lows&gt; <a href="https://t.co/bF9qXX93HI">https://t.co/bF9qXX93HI</a> <a href="https://t.co/uUDhcP4WJd">pic.twitter.com/uUDhcP4WJd</a>
&mdash; Larry Tentarelli, Blue Chip Daily (@bluechipdaily) <a href="https://twitter.com/bluechipdaily/status/1912089156924166345?ref_src=twsrc%5Etfw">April 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h3 class="wp-block-heading">A Crash In Investor Confidence</h3>
The survey, which gathers responses from hundreds of global fund managers overseeing trillions in assets, shows net 82% of respondents expect the global economy to weaken over the next 12 months—the highest level since the survey began. This marks a dramatic deterioration from March, when only 44% held a negative growth outlook.
Recession fears are also spiking, with 42% predicting a global recession, up from 19% in March. 
The probability of a "hard landing"—where economic contraction is abrupt and damaging—jumped to 49%, more than four times the 11% reported just a month earlier.
Cash levels, a proxy for investor nervousness, surged to 4.8%, up 125 basis points since February—the sharpest two-month rise since April 2020, when the pandemic panic began.
<h3 class="wp-block-heading">Peak US Exceptionalism?</h3>
The survey shows a seismic shift in sentiment toward U.S. markets. 
Allocation to U.S. equities fell by 53 percentage points since February, the largest two-month decline on record. This pushed net underweight exposure to 36%, the lowest since May 2023.
A striking 73% of investors said the era of "U.S. exceptionalism" has peaked, referring to the belief that the U.S. economy and markets could outperform the rest of the world. Correspondingly, expectations for the U.S. dollar to depreciate hit their worst level since 2006, with 61% expecting further weakness.
Investor outlook on U.S. corporate earnings turned bleak as well—net 28% said U.S. profit expectations are negative, the most pessimistic read since November 2007, just before the global financial crisis.
<h3 class="wp-block-heading">Expectations On Inflation And Fed Rate Cuts Diverge</h3>
The inflation outlook took a notable hawkish turn. Net 57% of fund managers see higher global consumer price index (CPI) over the next year—the highest since June 2021. The month-over-month jump in inflation expectations, 50 percentage points, was the largest since March 2022.
Despite this, investors are betting on policy easing, with 41% expecting three or more interest rate cuts from the Federal Reserve due to tightening liquidity conditions and weakening economic activity. The largest share, 34%, forecast two cuts this year.
But Hartnett's note cautioned that meaningful upside in asset prices would require "big tariff easing, big Fed rate cuts, and/or economic data resilience."
<h3 class="wp-block-heading">The New Crowded Trade</h3>
In a notable shift, the most crowded trade among fund managers is now "long gold," favored by 49% of respondents. This overtakes the tech-heavy "long Magnificent Seven," which led for 24 consecutive months.
Since the start of the year, bullion, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), has rallied by 23%. During the same period, the US seven largest tech stocks – tracked by the RoundHill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) – have fallen by 20%.
According to the survey, the rise of gold is tied to rising fears of stagflation—a toxic mix of slowing growth and high inflation—expected by 90% of respondents, the highest level since November 2022.
42% of fund managers also see gold as the top-performing asset for 2025, up from 23% in March. Meanwhile, global equities dropped to just 11% as the preferred asset class, a sharp decline from 39% the previous month.
<h3 class="wp-block-heading">How Bad Can It Get?</h3>
April's sentiment collapse dragged Bank of America's proprietary Bull &amp; Bear Indicator down from 4.8 to 4.5, inching closer to the traditional "buy" zone, but still suggesting that while investors are fearful, they haven't hit full capitulation.
Hartnett's note also hinted at a potential contrarian setup: If tariffs are eased and the Fed delivers aggressive rate cuts, going long U.S. stocks, cyclicals and the dollar while shorting gold, bonds and defensives could pay off. 
But if hard-landing fears materialize, shorting European and emerging market equities, along with bonds, would become the favored play.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/44824856/retail-traders-rush-into-leveraged-tech-etfs-betting-on-nasdaq-rebound-after-sharp-drop">Retail Traders Rush Into Leveraged Tech ETFs, Betting On Nasdaq Rebound After Sharp Drop</a></li>
</ul>
Photo: Shutterstock

Bonds

Global

MAGS

Wall Street's Mood Turns Bleak As Global Recession Fears Mount, Fund Managers Slash US Exposure

Amid the staggering rally in the Gold prices, the gold fund net inflows have hit a record of $80 billion year-to-date, doubling over its previous record high in 2020, according to the BofA Global Investment Strategy report.
What Happened: A BofA Research graph shared by the Kobeissi Letter on X highlights how the investors have been pouring money into gold at a record pace amid the ongoing market uncertainty.
The Gold Spot US Dollar price has rallied 25.95% from $2,623.81 on Dec. 31, 2024, to $3,304.80 per ounce as of today. Its record high stood at $3,318 per ounce as of the publication of this article.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: Gold fund net inflows have hit a record $80 BILLION year-to-date. This is 2 TIMES more than the previous high set in the full year 2020. Investors are pouring money into gold at a record pace as the market uncertainty has skyrocketed. As a result, gold prices have… <a href="https://t.co/GyD3Srw6hu">pic.twitter.com/GyD3Srw6hu</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1912204673240662143?ref_src=twsrc%5Etfw">April 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Apart from this, the World Gold Council data for the first quarter released last week highlighted that Gold ETFs saw an inflow of 226.5 metric tons worth $21.1 billion, the largest amount since the first quarter of 2022.
Following this, Gold ETF holdings increased by 3% to 3,445.3 tons by March-end, the highest since May 2023 but below the record 3,915 tons in October 2020. However, the World Gold Council noted that U.S.-listed funds saw the largest inflow in the first quarter with 133.8 tons, followed by Europe-listed funds with 54.8 tons.
All Gold-linked ETFs have risen over 21% year-to-date in 2025.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Gold ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Franklin Responsibly Sourced Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FGDL#NYSE">FGDL</a>)</td>
<td>21.75%</td>
<td>35.37%</td>
</tr>
<tr>
<td>Goldman Sachs Physical Gold ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/AAAU#BATS">AAAU</a>)</td>
<td>21.41%</td>
<td>34.91%</td>
</tr>
<tr>
<td>GraniteShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAR#NYSE">BAR</a>)</td>
<td>21.46%</td>
<td>34.99%</td>
</tr>
<tr>
<td>VanEck Merk Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUNZ#NYSE">OUNZ</a>)</td>
<td>21.31%</td>
<td>34.75%</td>
</tr>
<tr>
<td>SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)</td>
<td>21.33%</td>
<td>34.61%</td>
</tr>
<tr>
<td>iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>)</td>
<td>21.42%</td>
<td>34.88%</td>
</tr>
<tr>
<td>SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>)</td>
<td>21.47%</td>
<td>35.05%</td>
</tr>
<tr>
<td>abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>)</td>
<td>21.43%</td>
<td>34.92%</td>
</tr>
<tr>
<td>iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>)</td>
<td>21.49%</td>
<td>35.04%</td>
</tr>
<tr>
<td>Invesco DB Precious Metals Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBP#NYSE">DBP</a>)</td>
<td>17.90%</td>
<td>24.48%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/25/04/44831287/trump-administration-imposes-up-to-245-tariff-on-chinese-imports-amid-intensifying-trade-battle">Trump Administration Imposes Up To 245% Tariff On Chinese Imports Amid Intensifying Trade Battle</a>
Why It Matters: When compared with data from over 25 years, gold prices have skyrocketed 1046.5% from $288.25 on Dec. 31, 1999, to $3,304.80 today. In comparison, the S&amp;P 500 index has risen by 267.31% from 1,469.25 on Dec. 31, 1999, to 5,396.63 as of Tuesday&#8217;s close.
According to Zafar Shaikh, the founder &amp; CEO of Invesys Capital, gold prices have doubled over the last 30 months. This last happened in 2008 and 2011. However, he cautioned that &#8220;So it may still have some juice left but if you are late to the GOLD party, take a deep breath &amp; let it pass rather than getting attracted by $5000 targets.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">30 months since <a href="https://twitter.com/hashtag/GOLD?src=hash&amp;ref_src=twsrc%5Etfw">#GOLD</a> started bullrun in 2022 &amp; it&#39;s up 100% Other times when GOLD doubled in 30M was in 2008 &amp; 2011 which was followed by major correction or top for gold So it may still have some juice left but if you are late to the GOLD party, take a deep breath &amp; let it… <a href="https://t.co/glE8ikwflx">pic.twitter.com/glE8ikwflx</a>
&mdash; Zafar Shaikh (@InvesysCapital) <a href="https://twitter.com/InvesysCapital/status/1912436389808906283?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, Christopher Aaron, the founder of iGold Advisor, highlighted the Dow-to-Gold ratio in a chart, which showed that the ratio had broken a 45-year best-fit trend. The chart said that this pattern suggested that gold could outpace general equities over the next several decades.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No one is paying attention to this chart &#8212; and it is the single most important chart in all of finance&#8230;<a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> <a href="https://t.co/MQnJgUT5mp">pic.twitter.com/MQnJgUT5mp</a>
&mdash; Christopher Aaron (@iGlobalGold) <a href="https://twitter.com/iGlobalGold/status/1912289374584328695?ref_src=twsrc%5Etfw">April 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Economist Peter Schiff, on the other hand, spoke about gold mining stocks and said in a X post that &#8220;The time to invest in gold mining stocks is now before the market surges again!&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Gold&#39;s explosive rally from $2,000 to $3,000 caught investors off guard, and now it&#39;s aiming for $3,500. With China's economic grip tightening, is the US prepared for a shift in the global balance? The time to invest in gold mining stocks is now before the market surges again!… <a href="https://t.co/eys6gXzJYV">pic.twitter.com/eys6gXzJYV</a>
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1912429831582626183?ref_src=twsrc%5Etfw">April 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: Gold was trading at $3,304.80, whereas the ETF tracking the S&amp;P 500 index, SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), was down 0.73% in premarket.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44832789/sp-500-typically-gains-18-in-a-year-after-vix-drops-from-50-to-30-level-heres-what-analysts-say">S&amp;P 500 Typically Gains 18% In A Year After VIX Drops From 50 To 30 Level: Here&#8217;s What Analysts Say</a></li>
</ul>
Image Via Shutterstock

General

Gold Fund Inflows Smash Record With $80 Billion In 2025 — These ETFs Are Riding The $3,300 Surge

On Tuesday, April 15, U.S. markets closed lower amid ongoing tariff uncertainty and weakness in consumer and healthcare stocks. Gains in Bank of America and Citigroup provided some support, though bank executives warned of risks to consumer spending if trade tensions persist. Boeing <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/04/44822589/boeing-stock-is-sliding-tuesday-whats-going-on" rel="noreferrer noopener">fell</a> after China suspended jet deliveries, while the auto and pharmaceutical sectors also came under pressure from new tariff threats.
On the economic front, the NY Empire State Manufacturing Index improved to -8.1 in April from -20 in March. Export prices were unchanged in March, while import prices declined by 0.1% following a 0.2% gain in February.
Most S&amp;P 500 sectors ended the day lower, led by losses in consumer-related stocks, though information technology and real estate outperformed, closing higher amid broader market weakness.
The Dow Jones Industrial Average fell 0.38% to 40,368.96, the S&amp;P 500 slipped 0.17% to 5,396.63, and the Nasdaq Composite edged down 0.05% to 16,823.17.
Related: <a target="_blank" href="https://www.benzinga.com/25/04/44830406/nvidia-to-take-55-billion-hit-over-china-chip-export-restrictions-but-top-analyst-dan-ives-says-hes-not-overly-concerned-all-part-of-the-high-game-of-poker" rel="noreferrer noopener">Nvidia To Take $5.5 Billion Hit Over China Chip Export Restrictions — But Top Analyst Dan Ives Not Overly Concerned: &#8216;All Part Of The High Game Of Poker</a>
Asia Markets Today
<ul>
<li>On Wednesday, Japan&#8217;s Nikkei 225 fell 1.03% to close at 33,913.00, led by losses in the Paper &amp; Pulp, Transport and Communication sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 was down 0.04% and closed at 7,758.90, led by losses in the Energy, IT and Healthcare sectors.</li>
<li>India&#8217;s Nifty 50 was up 0.48% at 23,441.20, and Nifty 500 rose 0.61% to 21,408.30.</li>
<li>China&#8217;s Shanghai Composite rose 0.26% to 3,276.00, and Shanghai Shenzhen CSI 300 increased 0.31% to 3,772.82.</li>
<li>Hong Kong&#8217;s Hang Seng Index fell 1.91% to 21,056.98.</li>
<li>The Hang Seng index dropped as major Chinese tech firms like Baidu, Alibaba, and Tencent fell up to 5% after Nvidia warned of a $5.5B hit from new U.S. chip export controls, threatening AI chip access in China.</li>
</ul>
&nbsp;Eurozone at 05:45 AM ET
<ul>
<li>The European STOXX 50 was down 0.79%.</li>
<li>Germany&#8217;s DAX declined 0.55%.</li>
<li>France&#8217;s CAC 40 fell 0.65%.</li>
<li>U.K.&#8217;s FTSE 100 index traded lower by 0.47%.</li>
</ul>
Commodities at 05:45 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.85% at $61.84/bbl, and Brent was up 0.79% at $65.18/bbl.</li>
<li>Natural Gas fell 2.22% to $3.255.</li>
<li>Gold was trading higher by 2.44% at $3,319.35, Silver was up 1.96% to $32.930, and Copper fell 0.90% to $4.5840.</li>
<li>Gold surged to a record high as U.S.-China trade tensions, Nvidia&#8217;s warning, and economic uncertainty boosted safe-haven demand and pressured global tech and copper markets.</li>
</ul>
U.S. Futures at 05:45 AM ET
Dow futures were down 0.01%, S&amp;P 500 futures declined 0.54% and Nasdaq 100 futures slid 1.19%.
Forex at 05:45 AM ET
<ul>
<li>The U.S. Dollar Index declined 0.54% to 99.63, USD/JPY was down 0.22% to 142.86, and USD/AUD slid 0.945% to 1.5709.</li>
<li>The dollar fell sharply Wednesday amid renewed trade tensions and investor anxiety over erratic U.S. tariff policy. It hit a 10-year low against the Swiss franc and a seven-month low versus the yen.</li>
</ul>
Photo via Shutterstock

Asia Mixed, Europe Slides; Gold Hits $3,300 As Trade War Escalates - Global Markets Today While US Slept

Silver Prices Surging – How Market Conditions Are Affecting The Price Of Silver

ADVZF

NEWP

Screenshot 2024-05-29 at 5.35.33 PM

Precious metal prices are significantly influenced by investor sentiment, much like stocks and bonds. This can lead to routine price fluctuations, sometimes large and erratic, where the volatility can create both challenges and opportunities for investors. 

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