Strategist: If ETF funds continue to flow out, the short-term upside potential for gold prices may be limited

ChainCatcher news, Pepperstone research strategist Quasar Elizundia stated that after Moody's downgraded the U.S. credit rating, investors are reassessing the long-term outlook for U.S. sovereign risk. The demand for safe-haven assets like gold may increase. However, if ETF funds continue to flow out, the short-term upside potential for gold prices may be limited. He noted that last week, gold ETF funds saw a significant outflow of 30 tons.