Gold Turns Negative for 2026 at $4,221/oz; Standard Chartered Flags Further ETF Redemptions

According to Kitco News, spot gold turned negative for the year today, trading at $4,221.10 per ounce, down nearly 1% on the day. Suki Cooper, Global Head of Commodities Research at Standard Chartered Bank, warned that gold prices could face further pressure as investors liquidate losing positions in gold-backed exchange-traded funds. Cooper noted that at least 270 tonnes of ETF holdings are currently in loss-making territory around recent lows of $4,250/oz, which could rise to 465 tonnes if accounting for net redemptions established at lower price levels. She identified $4,100/oz as the next critical technical support level, cautioning that further declines could trigger additional downside risk.
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