The Organization of Petroleum Exporting Countries (OPEC) is expected to lower output to respond to lower prices.
“Both Brent and U.S. WTI are down more than 20 percent this month. And, unless they recover further throughout the trading week, the monthly losses would mark their biggest fall in more than 10 years,” according to CNBC.
USO has seen fourth-quarter inflows of nearly $404 million.
For more information on the gold market, visit our gold category.
Tom Lydon’s clients own shares of GLD.