$IAU

Investors added a record $31 billion to global physically backed gold ETFs in Q3, despite an 8.5% drop in gold prices in September. SPDR Gold Trust (GLD) and iShares Gold Trust (IAU) saw significant inflows, with global ETF holdings reaching 4,256 metric tons. This buying spree occurred amid rising Treasury yields and a stronger dollar, which typically deter gold investment. The World Gold Council suggests fiscal concerns and sovereign debt risks may be influencing this behavior.

Gold prices rose then fell after weak US jobs data, which lowered bond yields and the Dollar. Despite high yields, gold demand remains strong, with inflows into gold ETFs like GLD and IAU. Gold spot price reached $4216/oz before retracing. US nonfarm payrolls missed expectations, reducing Fed rate hike odds.

Gold has risen 17% over the past year, but faces pressure from higher interest rates after the Fed's 25 basis point hike. SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) provide exposure to physical gold. Despite higher yields, gold ETF demand remains strong, with August seeing significant inflows. GLD and IAU have similar one-year returns and assets under management. Future volatility depends on Fed policy, inflation, and the US dollar.

Investors withdrew $603M from SPDR Gold Shares (GLD) this week, but most funds flowed into cheaper gold ETFs like GLDM, IAU, and IAUM. Gold ETFs saw record inflows in August, with global holdings reaching 4,189 tonnes. GLD's expense ratio is 0.40%, while others charge less. Gold is trading at $4,347/oz, up from $4,294.

Gold prices have dropped 27% this year, driven by ETF outflows and rising US bond yields. SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) saw significant outflows, while the Roundhill Memory ETF (DRAM) gained assets. Rising bond yields and inflation expectations have reduced gold's appeal. Technical indicators suggest potential recovery, but outflows and yields remain challenges. Spot gold briefly fell below $4,000 but rebounded to $4,093.63.

Gold rebounded in August after falling 25% from a late-January record high to below $4,000 in mid-July. It traded around $4,400 per ounce, up about 8% in under two weeks. UBS forecast gold could reach $5,000 in H1 2027. Drivers cited include easing Treasury yields, a weaker dollar, and central bank buying.

i-80 Gold (TSE:IAU) reported Q2 cash of about $465M (down from $514M in Q1) and Q2 revenue just over $24M. Gold production was ~11,100 oz with ~5,300 oz sold. Management said Granite Creek resource work supports a feasibility study expected in Q3 2026, while Archimedes feasibility is delayed to mid-2027; Lone Tree refurbishment remains on track for first gold by end-2027.

Gold prices rose more than 2% intraday and are testing resistance near $4,200, after a July consolidation, according to the article. It cites Goldman Sachs research that conditions improved after the Fed meeting but gold may not be fully out of risk. A University of Cape Town study says gold’s safe-haven and hedging role weakened post-COVID versus U.S. sectors.

World Gold Council data says global mine output rose 2% YoY to 966 tons in Q2, with first-half production at an all-time high of 1,867 tons. All-in sustaining costs hit a record $1,785 per ounce in Q1. Central-bank purchases rose 62% YoY to 289 tons in Q2, including China and Tether, which added 14 tons of physical gold in its Q2 stockpile of 146 tons valued at $18.8B.

The article compares gold ETFs GLD and GLDM and gold-miner ETF GDX. GLD is down about 7.36% YTD through July 13, 2026, with a 0.40% net expense ratio. It says GLDM has lower fees and has outperformed GLD (19.09% vs 18.76% over 12 months). GDX is down about 14.46% YTD.