Gold ETFs Regain Luster: Will the Rally Continue?
Portfolio Pulse from
Gold prices have surged this week due to increased safe-haven demand amid rising tensions between Russia and Ukraine. This has led to a significant rally in gold ETFs, with gold on track for its best week in a year, rising 5%.
November 22, 2024 | 4:15 pm
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POSITIVE IMPACT
The SPDR Gold Trust (GLD) is likely to see a positive impact as gold prices rise due to increased safe-haven demand amid geopolitical tensions.
GLD, being a gold ETF, directly benefits from the increase in gold prices. The current geopolitical tensions have increased demand for gold as a safe-haven asset, which is reflected in the 5% rise in gold prices this week. This is likely to positively impact GLD's performance in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80