|Bid||14.38 x 312300|
|Ask||14.39 x 312600|
|Day's Range||14.30 - 14.41|
|52 Week Range||11.33 - 14.90|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||-0.03|
|Expense Ratio (net)||0.25%|
An array of gold-backed ETFs are soaring as investors price in lower interest rates around the world while looking for defensive assets, themes that are boosting the fortunes of the iShares Gold Trust (IAU) . Gold was one of the best-performing assets last month, strengthening 8% and touching its highest level since April 2013 after President Donald Trump escalated the trade war and announced additional tariffs on Chinese imports. “Holdings in BlackRock’s iShares Gold Trust, the second-largest bullion-backed ETF, rose to a record on Friday, even as prices of the metal posted a second straight weekly loss,” reports Bloomberg.
As global bond yields plummeted with some hovering in the negative territory, investors have jumped into precious metals and related ETFs to better safeguard their purchasing power in times of uncertainty. For example, gold has acted as a historical safe-haven play during a low rate environment, with volatile equities and a weak dollar. There are now a number of gold ETFs on the market that investors can choose from, including the SPDR Gold Shares (GLD) , iShares Gold Trust (IAU) , GraniteShares Gold Trust (BAR), Aberdeen Standard Physical Swiss Gold Shares ETF (SGOL) and VanEck Merk Gold Trust (NYSE Arca: OUNZ) .
Gold was one of the best-performing assets last month, strengthening 8% and touching its highest level since April 2013 after President Donald Trump escalated the trade war and announced additional tariffs on Chinese imports. Gold prices have strengthened about 20% this year to $1,564 per ounce. “In August, global gold-backed ETFs and similar products had US$6.0bn of net inflows across all regions, increasing their collective gold holdings by 122t to 2,733t,” said the World Gold Council (WGC) in a note out Thursday.
Investors have plowed into gold ETFs, with holdings in bullion-backed products surging to their highest level in six years over August, in response to the heightened uncertainty and market risks. For example, among the most popular gold-related ETFs, the SPDR Gold Shares (GLD) attracted $2.6 billion in net inflows over August while the iShares Gold Trust (IAU) brought in $894 million and Aberdeen Standard Physical Swiss Gold Shares ETF (SGOL) saw $65 million in inflows, according to ETFdb data. Investors bought a total of about 101.9 metric tons of gold through ETFs last month or about $5 billion in August, the Financial Times reports.
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As the global central banks try to enact policy changes that would benefit their own currencies, investors may consider gold and related ETFs to better safeguard their wealth. Deutsche Bank AG argued that gold could stand out if U.S. foreign-exchange policy fuels a global currency conflict, Bloomberg reports. Traders fear the possibility of U.S. foreign exchange intervention after President Donald Trump censored China and Europe for playing a "big currency manipulation game." Meanwhile, the U.S. is moving toward weakening its dollar currency, which could be a trigger for other foreign governments to follow suit, sparking a "true currency war" that would involve the yuan and euro, according to Deutsche Bank strategist Alan Ruskin.
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Gold ETFs, including the SPDR Gold MiniShares (NYSEArca: GLDM) and SPDR Gold Shares (NYSEArca: GLD), were widely embraced by investors seeking safe assets last month. “Holdings in global gold-backed ETFs ...