Gold ETF Leads Inflows as Mega-Cap ETFs Shed Billions in One Day - SPDR Gold Shares (ARCA:GLD)

Bloomberg's Eric Balchunas notes record inflows of $7b into gold and Bitcoin ETFs in a week, outpacing AI-related funds. SPDR Gold Shares (GLD) and BlackRock's iShares Bitcoin Trust (IBIT) led the surge, ranking among the top 10 most-traded ETFs. IBIT's year-to-date flows turned positive. The 'debasement trade' is gaining attention amid U.S. debt concerns and a weaker dollar, with Bitcoin surpassing $80,000 and gold also rising.

QQQ, an ETF tracking the Nasdaq-100, is at a technical crossroads, with mixed signals from indicators like RSI and MACD. Nvidia's strong earnings, with $96.2B revenue and a 70% growth outlook, could boost QQQ, but Fed Chair Warsh's upcoming speech poses a risk. Analysts expect QQQ to test resistance at $729.27 or support at $711.61 based on Warsh's stance.

Oil prices fell to a one-week low, with WTI crude down 3.2% and Brent crude down 2.92%, following the U.S. announcement of sweeping sanctions against Iran. The market reacted to reports suggesting reduced risk of immediate U.S.-Iran conflict escalation. Treasury yields slipped, and equities rose, with SPY up 0.48% and DAL up 2.12% in premarket trading.

Gold and silver prices rose after the U.S. Treasury announced plans to double long-dated T-bill buybacks, lowering long yields and weakening the dollar. Gold reached $4,662.71, its highest since early June, while silver briefly hit $70/oz. The Bank of Korea invested in gold ETFs, and Indian silver imports rebounded under new regulations. Analysts note that sustained gains depend on real yields and Fed policy.

Invesco QQQ Trust (QQQ) saw $10.9B net outflows in August 2026, including a $5.7B single-day outflow, despite a partial rebound. Bitcoin ETFs had $1.9B net inflows over a five-day period, coinciding with Bitcoin's price recovery. QQQ manages $450B-$488B in assets, while Bitcoin ETFs are newer instruments.

The Philadelphia Fed's manufacturing index rose to 47.4 in August, exceeding expectations. Future activity index hit 73.6, highest since 1983. 75% of firms expect growth. Capital spending index at 53-year high. Employment index improved. Prices paid and received declined but remain elevated. ISM and NY Fed reports also surpassed forecasts. iShares U.S. Manufacturing ETF (MADE) up 29% year-to-date, outperforming QQQ and SPY.