📉【Massive Outflows Hit Gold ETFs!】
According to The Kobeissi Letter, gold ETF $GLD saw $1.3B in outflows on Wednesday — the third-largest daily outflow ever recorded!
⚡Ironically, $GLD just hit a $1.9B inflow record last week. Meanwhile, gold miners ETF $GDX also lost $200M — the worst single-day outflow in the past 12 months.
Gold prices plunged 2.7% on the same day, marking the second-largest daily drop of 2024!