Gold ETFs are finally joining the party

Published On Nov 11, 2024, 6:00 AM

Gold prices have recently surged, reaching an all-time high of $2,788 an ounce as of October 30, 2024. This increase has spurred significant inflows into gold exchange-traded funds (ETFs), marking the first quarter of global inflows since early 2022. In October alone, $4.3 billion was invested in gold ETFs, with notable interest in the SPDR Gold Trust ETF, which has received over $1 billion in inflows this year. The article hints at continued interest in gold as inflation concerns and a volatile stock market drive investors towards the metal for safety.

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Stock Forecasts

GLDView GLD chart on TradingView

Positive

Given the recent rise in gold prices and inflows into gold ETFs, it is reasonable to predict a positive outlook for these investment vehicles. The continued uncertainty in the market, alongside anticipated actions from the Federal Reserve potentially impacting interest rates, suggests that gold prices may remain relatively high as investors seek safe havens.

IAUView IAU chart on TradingView

Positive

With the SPDR Gold Trust ETF (GLD) leading the charge in inflows, the stock is poised to benefit from ongoing market conditions that favor gold as a secure investment. The backdrop of economic uncertainties further supports this positive trend.

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