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Eric Balchunas highlighted the volatility of the GLD ETF, noting its significant challenges over its 22-year history. At one point, the ETF experienced a dramatic 40% decline within six months, resulting in 33% of its assets flowing out.
However, since that period of turbulence, the GLD ETF has managed to attract about $30 billion in new cash, showcasing its resilience and the market's enduring interest.
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The GLD ETF’s renewed appeal underscores persistent trends observed across precious metals markets, reflecting trading dynamics seen when gold reached a record $25 billion daily volume and silver approached $20 billion. Broader shifts in investor behavior are also evident, as highlighted by changing ETF inflows to low-fee options, suggesting a landscape that continues to adapt in response to evolving market challenges and opportunities.