|Bid||69.52 x 1800|
|Ask||69.72 x 1800|
|Day's Range||68.60 - 69.72|
|52 Week Range||43.60 - 83.85|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||44.75%|
|Beta (5Y Monthly)||-0.02|
|Expense Ratio (net)||0.95%|
A number of exchange-traded funds (ETFs) are devoted exclusively to gold, a precious metal valued both for its industrial uses and its use as a store-of-value. The shiny metal is used in jewelry and is a key component in a number of electronics products.
Gold ETFs had a nice spell this year as coronavirus fears triggered a safe-haven rally. Several other factors have also been favoring the metal.
Gold has fallen from its record highs earlier this year when inverted yield curves, fears of slowing global growth and the U.S.-China trade war spooked investors into seeking safe haven assets like precious metals. “The macro narrative has shifted from ‘recession or no recession’ to ‘no recession or cyclical upturn’ … Given the notable lack of physical support, the critical gold support into year-end, rests on both structural investor interest recommitting and CB [central banks] interest reengaging to offset potentially strong fresh paper shorts (who are underweight),” wrote Scotiabank commodity strategist Nicky Shiels.