With economic uncertainty prevailing and Fed rate cuts on the table, investor interest in gold ETFs is likely to remain strong in the months ahead. The new desk will initially handle semi-processed bars but could eventually compete with global banks in the refined bullion trade, people familiar with the matter said to Bloomberg. The trading landscape is shaping up to be competitive. Trafigura is looking to challenge large global banks, while itself fending off competition such as Vitol Group , Mercuria Energy , and Gunvor Group . IAU stock price today forecast is supported by hedge fund positioning revealed in recent CFTC reports. The ETF tracks gold spot prices closely, and resistance at $47.60 could be tested amid softer retail sales data.
