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

Jin10 data May 21 news, supported by lingering concerns over the U.S. fiscal deficit, Spot gold is steadily strengthening. Pepperstone research strategist Quasar Elizundia stated that after Moody's downgraded the U.S. credit rating, investors are reassessing the long-term outlook of U.S. sovereign risk. 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, 30 tons of gold ETF funds flowed out significantly.