Gold had a tough time in 2021 closing out the year -3.6%, the lowest decline since 2015. With 2022 showing to be lackluster for stocks, gold isn’t performing well either. The SPDR Gold Shares (GLD) is off 0.4% when compared to the S&P 500 which is down -20.6% and outflows for gold ETFs totaled 53 tons in May.
With the Fed likely to raise rates this year it will make gold rallies much harder as gold is priced with the dollar.
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