GraniteShares Gold Shares

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Market cap $1.35B

The latest Kitco News Weekly Gold Survey showed Wall Street overwhelmingly bearish on gold's near-term prospects, while Main Street sentiment remained divided and indecisive after the yellow metal repeatedly tested the $4,000 support level.

Despite easing inflation pressures, gold is ending the week with another loss as it tries to hold support at $4,000 an ounce.

Gold remains under pressure after breaking key trend support, with $3,942 and lower Fibonacci levels becoming important as traders watch for reversal signals.

Gold ETFs come in flavors, and the leveraged ones bite. ProShares Ultra Gold (NYSEARCA:UGL) aims to deliver twice the daily move in gold bullion, while ProShares UltraShort Gold (NYSEARCA:GLL) targets the opposite: negative two times the daily move.

A new physical gold ETF has arrived on Wall Street with a distinctly Texan accent.

The rally in the oil markets did not put pressure on gold markets.

The gold market has fallen this past week, as we are sitting near the $4,000 level, which is important from a psychological point of view.

Overall, I continue to believe the correction that began in January is approximately 95% complete and that we are approaching an important low.

The gold market is trading near session highs after the latest data showed consumer sentiment in the U.S. improving, with shorter-term inflation expectations easing.The University of Michigan announced on Friday that the preliminary reading of its Consumer Sentiment survey for July was 54.4. The data was better than expectations, as the consensus forecast of economists called for a reading of 51.

The gold market has been slightly positive in early Friday trading, as we continue to see the market do what it can to hang onto this area in general.