AfricaGold ETF is trading 3.2% down at $65,616.00 following a sharp pullback from its June 15 rebound, closely tracking recent softness in rand-denominated gold and global gold ETF flows.
- The decline follows the June 17 Federal Reserve decision to hold rates while signaling potential future hikes, a backdrop that typically pressures non-yielding assets.
- Rising real yields and a shift in investor appetite toward risk assets have further dampened demand for gold-backed instruments.