Gold Price: GOLD.STU ETFs primarily reflect spot gold prices. Increased gold demand or decreased supply raise prices.

Currency Fluctuations: Changes in the US dollar's value affect gold prices, often inversely. A weaker dollar makes gold cheaper for foreign buyers, increasing demand.

Interest Rates: Higher interest rates typically decrease gold's appeal as other investments become more attractive.

Inflation: Gold is often seen as an inflation hedge. Rising inflation can increase gold demand and prices.

Geopolitical Risk: Political instability or economic uncertainty often drive investors to gold as a safe haven asset, increasing its price.

ETF Demand: Increased investor demand for GOLD.STU specifically can drive up its price, even if underlying gold prices remain stable.

Supply Chain: Disruptions in gold mining or refining can impact supply and therefore affect the price.