Goldman Sachs Physical Gold ETF (BATS:AAAU) Reaches New 52-Week Low – Here’s Why

Goldman Sachs Physical Gold ETF (BATS:AAAU) shares hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $38.00 and last traded at $38.06, with a volume of 717,378 shares changing hands. The stock had previously closed at $39.27.

Trending Headlines about Goldman Sachs Physical Gold ETF

These are some of the AAAU headlines that stood out recently:

• Positive Sentiment: Central-bank purchases, including continued gold buying by China, provide a source of underlying demand. Standard Chartered also sees potential for gold to recover toward $4,650 by year-end. China buys gold for two straight years Standard Chartered gold outlook
• Negative Sentiment: Hotter-than-expected inflation has lifted Treasury yields and Fed rate-hike expectations, while a stronger U.S. dollar and rising real yields make non-interest-bearing gold less attractive. Analysts warn that gold could test $3,900, with further downside possible if support breaks. Gold faces pressure as real yields climb Gold dims amid rising Fed rate-hike expectations
• Negative Sentiment: Gold continued to slide despite weaker-than-expected U.S. jobless-claims and existing-home-sales data, indicating that concerns about inflation, yields and monetary policy are currently outweighing any potential safe-haven or rate-cut support. Spot gold slides after existing-home sales fall

Goldman Sachs Physical Gold ETF Stock Down 2.9%

The firm has a fifty day simple moving average of $41.17 and a 200 day simple moving average of $44.08.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AAAU. Oarsman Capital Inc. raised its stake in shares of Goldman Sachs Physical Gold ETF by 6.8% during the second quarter. Oarsman Capital Inc. now owns 204,694 shares of the company’s stock worth $8,100,000 after buying an additional 12,990 shares during the last quarter. NEOS Investment Management LLC boosted its stake in Goldman Sachs Physical Gold ETF by 38.6% in the second quarter. NEOS Investment Management LLC now owns 2,734,560 shares of the company’s stock valued at $108,207,000 after acquiring an additional 761,400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Goldman Sachs Physical Gold ETF in the third quarter valued at approximately $26,194,000. GoalVest Advisory LLC grew its holdings in Goldman Sachs Physical Gold ETF by 9.3% during the 2nd quarter. GoalVest Advisory LLC now owns 221,219 shares of the company’s stock worth $8,754,000 after acquiring an additional 18,844 shares during the period. Finally, Moulton Wealth Management Inc. grew its holdings in Goldman Sachs Physical Gold ETF by 44.6% during the 3rd quarter. Moulton Wealth Management Inc. now owns 99,027 shares of the company’s stock worth $4,075,000 after acquiring an additional 30,544 shares during the period.

Goldman Sachs Physical Gold ETF Company Profile

The Goldman Sachs Physical Gold ETF (AAAU) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses and liabilities, using gold bars held in vaults located in the UK. AAAU was launched on Jul 26, 2018 and is issued by Goldman Sachs.