abrdn Physical Gold Shares ETF (ARCA: SGOL)

에 대한 최신 뉴스 abrdn Physical Gold Shares ETF (ARCA:SGOL)

abrdn Physical Gold Shares ETF

The Shares are intended to constitute a simple and cost-effective means of making an investment similar to an investment in gold. An investment in physical gold requires expensive and sometimes complicated arrangements in connection with the assay, transportation, warehousing and insurance of the metal. Although the Shares are not the exact equivalent of an investment in gold, they provide investors with an alternative that allows a level of participation in the gold market through the securities market.

Aberdeen Standard Physical Gold Shares ETF

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2025년에는 금 가격이 상승세를 지속할 것으로 예상되지만, 지난해 27% 급등에 비해 상승 속도는 느릴 것으로 보인다. 애널리스트들은 연말까지 현재 수준에서 7% 상승할 것으로 예상하며, 이는 보다 완만하면서도 꾸준한 상승을 나타낸다.

트럼프의 백악관 복귀와 지정학적 긴장 속에 2025년 금값은 7% 상승 전망: 모멘텀의 귀환

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애널리스트들은 금이 2024년에 10년 만에 최고의 연간 상승률을 기록할 것으로 전망하며, 2025년에도 실적이 좋을 것으로 예상하고 있다.

올해 금 가격은 10년래 연간 상승률 최고 기록 전망, 비트코인과 비교하면?

Gold miners dominated <a target="_blank" href="https://www.benzinga.com/topic/mergers-and-acquisitions" rel="noreferrer noopener">mergers and acquisitions (M&amp;A) activity</a> in the metals and mining industry in 2024. Research by S&amp;P Global Market Intelligence found that yellow metal deals accounted for 70% of the total transaction value.
The <a target="_blank" href="https://www.spglobal.com/market-intelligence/en/news-insights/research/mining-mna-in-2024-gold-dominates-mna-space-for-2nd-consecutive-year" rel="noreferrer noopener">report</a> showed 62 gold-related transactions, compared to 47 in 2023, or a 32% growth. Although the overall deal value remained relatively close, at $26.36 billion, the $16.5 billion Newmont's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) acquisition of Newcrest was an outlier, skewing the numbers for the year before.
Most of 2024's M&amp;A occurred in two top jurisdictions, Australia and Canada. Gold's 27% surge in 2024 further incentivized acquisitions, while geopolitical risks, including the persisting conflict in Ukraine, tensions in the Middle East, and rising central bank purchases, encouraged expansions through acquisitions.
Northern Star Resources (OTCPK: NESRF) <a target="_blank" href="https://www.benzinga.com/24/12/42262825/northern-star-acquires-de-grey-for-33-billion-secures-promising-tier-1-asset" rel="noreferrer noopener">$3.26 billion acquisition</a> of De Grey Mining was the largest single transaction, consolidating ownership of one of Australia's most promising gold deposits. The number two spot went to AngloGold Ashanti's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40790433/anglogold-ashanti-to-acquire-centamin-for-2-5b-to-become-fourth-largest-gold-producer" rel="noreferrer noopener">$2.48 billion takeover</a> of Centamin, strengthening its African presence.
In contrast, despite copper's growing popularity, copper-focused M&amp;A was comparatively subdued, with 16 total deals amounting to $5.7 billion. The largest one was Lundin Mining and BHP's joint <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/40031488/bhp-to-unlock-south-american-copper-riches-partners-with-lundin-for-filo-acquisition" rel="noreferrer noopener">$3.03 billion acquisition</a> of Filo Corp. If BHP's <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/39068033/time-runs-out-for-bhp-deal-49-billion-acquisition-of-anglo-american-proves-too-complex-to-solve" rel="noreferrer noopener">$49 billion bid for </a><a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/39068033/time-runs-out-for-bhp-deal-49-billion-acquisition-of-anglo-american-proves-too-complex-to-solve" rel="noreferrer noopener">Anglo American</a> had succeeded, the situation would have been vastly different.
S&amp;P's report also highlighted that while overall deal value remained stable, the absence of a $10 billion-plus megadeal meant that the average transaction size fell to $428.1 million—the lowest in five years and a 24% decline from 2023.
Large miners like Newmont sold smaller portfolio parts, focusing on top assets. At the same time, intermediate producers sought those assets to pursue margin-boosting synergies and growth necessary to break into the big leagues of producing over 1 million ounces annually.
In 2025, S&amp;P predicts further positive momentum in gold M&amp;A as metal prices bid new highs. The sector has already seen notable activity in early 2025, including Equinox Gold's $1.87 billion bid for Calibre Mining. However, <a target="_blank" href="https://www.benzinga.com/25/03/44394574/the-largest-shareholder-opposes-equinoxs-18-billion-acquisition" rel="noreferrer noopener">opposition from Equinox's top shareholder</a>, Van Eck, raises questions about whether the deal will proceed. Van Eck, who holds significant stakes in both companies, cited a lack of operational synergies as a key concern.
Gold Fields'<a target="_blank" href="https://www.benzinga.com/25/03/44458684/gruyere-power-struggle-gold-fields-surprise-offer-rejected-countermove-denied" rel="noreferrer noopener"> $2.1 billion offer</a> for Gold Road Resources announced this week was rejected as "opportunistic," with Gold Road arguing it undervalued its assets. The deal would have given Gold Fields full control over the Gruyere gold mine, but Gold Road proposed buying out Gold Fields' stake—a counteroffer that was subsequently rejected.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/03/44481208/sandstorm-gold-shares-are-up-today-whats-going-on" target="_blank" rel="noreferrer noopener">Sandstorm Gold Shares Are Up Today: What's Going On?</a></li>
</ul>
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Gold M&A Deals Are Accelerating, But Average Deals Are Smaller, Research Shows

Equinox Gold's (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EQX#AMEX">EQX</a>) <a target="_blank" href="https://www.benzinga.com/news/legal/25/02/43938698/equinox-gold-buys-calibre-mining-for-1-8-billion-creating-canadas-second-largest-gold-producer" rel="noreferrer noopener">$1.8 billion acquisition</a> of Calibre Mining (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXBMF#OTC">CXBMF</a>) has hit a hurdle. A top shareholder in both companies publicly opposed the plan, citing synergy concerns.
"We are not supportive of this transaction. We don't see any synergies between any of the companies' operations," Imaru Casanova, a portfolio manager at Van Eck, said <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-03-18/top-calibre-investor-opposes-equinox-s-1-8-billion-takeover-bid" rel="noreferrer noopener">per</a> Bloomberg's report on Tuesday.
"Both operate in the Americas, but in vastly different locations," she clarified, arguing that the deal dilutes Calibre's quality and potential, particularly as the company advances its flagship Valentine project in Canada.
According to Bloomberg, Van Eck is the largest Calibre shareholder, holding an 8.52% stake, and the second-largest Equinox shareholder, with an 8.86%.
Equinox announced the all-stock acquisition of Calibre last month as part of its strategy to consolidate gold assets and boost annual production. Equinox operates across Canada, Mexico, Brazil, and the United States, while Calibre's assets are primarily located in the United States and Nicaragua, Bloomberg writes.
Under the proposed structure, Calibre shareholders would receive shares of Equinox instead of cash at a 22% premium. The merger aims to create a mid-tier gold producer with a combined annual output of approximately 1.2 million ounces, placing it among the top 15 global producers.
The deal-making activity is unsurprising given the record-high gold prices, which have encouraged miners to expand. Gold broke the <a target="_blank" href="https://www.benzinga.com/25/03/44325928/gold-smashes-through-3000-mark-as-markets-brace-for-turbulence-and-fed-signals" rel="noreferrer noopener">milestone price of $3,000</a> per ounce last week, driven by central bank purchases and investor demand for safe-haven assets.
Jeffrey Gundlach, CEO of DoubleLine, recently predicted that gold could reach $4,000 per ounce, citing the sharp increase in central bank buying and ongoing geopolitical risks. Meanwhile, analysts at Macquarie have raised their price target to $3,500 per ounce by the third quarter of 2025.
With gold outperforming in 2024, Equinox reported a record year. It produced 621,893 ounces of gold and generated $1.5 billion in revenue, with an operating cash flow of $430 million. Looking ahead to 2025, Equinox expects to produce between 635,000 and 750,000 ounces, with an all-in-sustaining cost (AISC) between $1,455 and $1,550 per ounce.
Thus, even using the upper AISC estimate and assuming an average realized price of $3,000 per ounce, Equinox would generate around $1.1 billion in gross profit, maintaining last year's production level, making a good acquisition a lucrative proposal.
Still, given the lack of geographical proximity to unlock the synergies, Van Eck's opposition might shape investor sentiment, as approval requires support from two-thirds of both companies' shareholders.
Price Watch: VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) is up 32.81% year-to-date.
Read Next:
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<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/03/44335436/gold-etfs-shine-as-spot-price-tops-3000-during-safe-haven-demand" target="_blank" rel="noreferrer noopener">Gold ETFs Shine As Spot Price Tops $3,000 During Safe-Haven Demand</a></li>
</ul>
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Calibre Mining's Largest Shareholder Opposes Equinox's $1.8 Billion Acquisition

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Gold and Silver are trading lower, possibly due to a delay in tariffs. Also, Trump-Russia talks may reduce safe-haven asset demand.

While gold continues to climb toward its historic milestone of $3,000 per ounce, propelled by the escalating tariff wars, gold miners have <a target="_blank" href="https://www.benzinga.com/25/02/43590446/gold-prices-near-3000-outpacing-us-equities-as-it-hits-a-fresh-record-high-amid-donald-trumps-trade-war-led-market-uncertainty" rel="noreferrer noopener">lagged this success</a>. Rising labor costs, foreign government pressures, and inflation are squeezing profitability, raising questions on whether they can catch up.
Gold's recent performance has been stellar, as the precious metal gained 27% in 2024 and over 11% in the first six weeks of 2025. However, mining equities have not kept up the pace.
Top majors Barrick (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) and Newmont NYSE: NEM) reported disappointing third-quarter earnings, as all-in-sustaining costs (AISC) rose by 20% and 13%, respectively.
"Labor remains one of the substantial expenses for miners, and we expect the inflation story to continue playing out over the next year or so," Sarah Tomlinson, director of mine supply at Metal Focus, noted for Reuters.
In Australia, a major gold-producing country, the Albanese government's "<a target="_blank" href="https://ministers.dewr.gov.au/watt/same-job-same-pay-growing-wages-australian-workers" rel="noreferrer noopener">Same Job, Same Pay</a>" legislation has increased wages for mine workers. The policy, which came into effect last November, ensures that temporary workers receive the same pay as permanent employees performing the same job.
Thus, 120 workers in New South Wales mines saw annual wages rise by up to $22,000, with another 1,500 workers likely to benefit from similar adjustments. While this policy promotes wage equity, it has added to miners' cost burdens, particularly in an industry grappling with labor shortages and declining interest in mining careers.
Rising gold prices have also driven governments' interest in boosting royalty participation within their jurisdictions. The military-led government has introduced new royalties and tax demands in Mali, Africa's fourth-largest gold producer. The government has increased its share of mining revenues and ordered Barrick to pay back <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/10/41571989/mali-government-threatens-barricks-loulo-mine-permit-over-disputes-on-economic-benefit-sharin" rel="noreferrer noopener">hundreds of millions</a> in taxes and dividends.
In turn, this had a double-whammy impact: effectively, it drove down the country's production—which <a target="_blank" href="https://www.benzinga.com/news/global/25/02/43588936/malian-gold-output-falls-23-as-new-mining-law-pressures-producers" rel="noreferrer noopener">fell by 23%</a> in 2024—while making operations there less profitable.
Still, the gold mining industry has been grappling with rising AISC for years. Since 2016, the average AISC has climbed steadily, driven by higher energy, materials, and labor costs.
In 2022, AISC reached a record high of $1,276 per ounce, up 18% year over year, <a target="_blank" href="https://ibisingold.com/en/article/gold-mining-costs-have-reached-record-levels-what-is-next-for-the-metal" rel="noreferrer noopener">per</a> IBIS InGold.
Despite producer cost pressures, gold's long-term outlook remains strong. Sabrin Chowdhury, head of commodities analysis at BMI, expects it to continue outperforming other metals.
"Gold is benefiting strongly from economic and geopolitical risks, and we expect it to remain elevated," Chowdhury recently <a target="_blank" href="https://www.fitchsolutions.com/bmi/events/mining-and-metals-key-themes-2025-04-02-2025" rel="noreferrer noopener">noted</a>, highlighting central bank buying, trade tensions, and FED's rate cuts as supporting factors.
Read Next:
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<li><a href="https://www.benzinga.com/25/02/43615367/peter-schiff-predicts-silvers-explosive-catch-up-move-as-the-gold-to-silver-ratio-crosses-901-analysts-foresee-silver-prices-to-touch-38-in-2025" target="_blank" rel="noreferrer noopener">Peter Schiff Says Silver Is Set For An ‘Explosive' Rally As Yellow Metal Nears $3,000: ‘If You Think You Missed The Boat On Gold'</a></li>
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Gold Nears $3,000 But Miners Struggle As Rising Costs Squeeze Profits

Goldman Sachs has postponed its projection for gold prices to hit $3,000 per ounce, shifting the timeline from early 2026 to mid-2026. The investment bank adjusted its expectations from the Federal Reserve, as tighter-than-expected monetary policy would influence <a target="_blank" href="https://www.benzinga.com/topic/gold" rel="noreferrer noopener">gold prices</a>.
Goldman analysts Lina Thomas and Daan Struyven forecast gold to reach $2,910 per ounce by the end of the year. The bank's economists now anticipate 75 basis points of rate cuts in 2025, down from the previously expected 100 basis points.
"Opposing forces — lower speculative demand and structurally higher central bank buying — have effectively offset each other, keeping gold prices range-bound over the past few months," they said in a note per Bloomberg's <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-01-06/goldman-pushes-back-3-000-gold-forecast-on-fewer-us-rate-cuts" rel="noreferrer noopener">report</a>, attributing the long-term demand to central banks buying appetite.
"Looking ahead, we forecast monthly purchases to average 38 tons through mid-2026," they stated.
Gold delivered a <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/12/42502069/gold-poised-for-its-best-year-in-a-decade-while-bitcoin-surges-analysts-eye-2025-as-a-golden-era-for-precious-metal-amid-michael-saylors-push-for-btc-as-a-reserve-asset" rel="noreferrer noopener">robust performance</a> in 2024, gaining 27% due to monetary easing, central bank purchases, and lingering inflation fears. However, the rally lost momentum in late 2024 as the U.S. dollar strengthened following the election-driven optimism.
Still, the U.S. is finding other ways to take advantage of higher-for-longer gold prices. President Joe Biden just approved the final permit for the Stibnite Project in Idaho, a mining initiative led by Perpetua Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPTA#NASDAQ">PPTA</a>) and backed by billionaire investor John Paulson.
This project could supply more than 35% of the U.S. demand for antimony, a critical mineral essential for solar panels, flame retardants and military equipment, while also producing around 450,000 ounces of gold annually.
Although the project cost around $1.3 billion in 2020, the final number will be higher. Accounted reserves include 148 million pounds of antimony and 6 million ounces of gold, and production is set for 2028.
Antimony prices surged in 2024, rising over 200% and over 40% in a single day after China issued an <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/12/42294914/mp-materials-are-on-the-rise-today-whats-going-on" rel="noreferrer noopener">export ban</a> on December 3.&nbsp;However, extreme price volatility and control over the market (China accounted for 48% of<a target="_blank" href="https://www.csis.org/analysis/chinas-antimony-export-restrictions-impact-us-national-security" rel="noreferrer noopener"> global production</a> and 63% of U.S. imports in 2023) are risky for producers.
Thus, the dual output of gold and antimony offers financial resilience, reducing dependence and insulating the project from external price fluctuations.&nbsp;
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42783039/kobold-metals-raises-537-million-targets-going-public-within-a-few-years" target="_blank" rel="noreferrer noopener">Bill Gates And Jeff Bezos Backed Mining Startup Raises $537 Million, Targets Going Public In Few Years</a></li>
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Goldman Sachs Delays $3,000 Gold Forecast, Sees Fewer Rate Cuts In 2025

Rolex SA, the Swiss luxury watchmaker, has raised prices on several of its models following an upswing in gold prices in 2024, <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-01-02/rolex-kicks-off-2025-by-hiking-watch-prices-after-gold-soars?srnd=phx-industries&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a> reported.
According to the report, the price of the yellow gold Day-Date and yellow gold GMT-Master II has increased by almost 8% to 44,200 euros and 44,600 euros, respectively.
The price hikes follow gold&#8217;s remarkable 27% gain in 2024, reflecting its role as a safe-haven asset that remains prominent amid global economic uncertainties and geopolitical tensions.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/12/42666501/starbucks-faces-major-strike-on-christmas-eve-300-locations-affected-as-5000-workers-walk-out" rel="noreferrer noopener">Starbucks Faces Major Strike On Christmas Eve: 300+ Locations Affected As 5,000 Workers Walk Out</a>
While Rolex traditionally adjusts prices at the beginning of the year, this year&#8217;s changes surpass the 4% increases seen for some of its models in the beginning of 2024, Bloomberg noted.
According to a report, the gold prices are expected to continue their upward trajectory and reach $2,795 per troy ounce by the end of 2025, a <a target="_blank" href="https://www.benzinga.com/markets/commodities/25/01/42759408/gold-prices-to-climb-7-in-2025-amid-trumps-return-to-white-house-and-geopolitical-tensions-momentum-is-taking-back-over" rel="noreferrer noopener">7% increase from current levels</a>.
Central banks are likely to drive demand as they diversify reserves in the midst of geopolitical uncertainties.
Key drivers of the expected increase include central banks&#8217; diversification away from the U.S. dollar following sanctions on Russia, anticipated interest rate cuts by the U.S. Federal Reserve, and rising concerns about U.S. <a target="_blank" href="https://www.benzinga.com/24/12/42594797/trump-wants-to-get-rid-of-the-debt-ceiling-30-year-treasury-bonds-fall-to-2024-lows-stocks-cut-gains" rel="noreferrer noopener">government debt</a> under President-elect&nbsp;Donald Trump.
As per&nbsp;<a target="_blank" href="https://pro.benzinga.com/" rel="noreferrer noopener">Benzinga Pro</a>, gold ETFs have increased in the past year as of Tuesday, 31st Dec.&nbsp;SPDR&nbsp;Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) was up by 26.85%,&nbsp;iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) rose by 26.85%, and&nbsp;abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) was up by 26.90%.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42729529/social-media-stocks-react-as-trump-targets-censorship-and-delays-tiktok-ban" target="_blank" rel="noreferrer noopener">Trump Administration to Challenge Social Media Censorship, Setting Stage for Conflict with EU Regulations</a></li>
</ul>
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Gold Price Surge Pushes Rolex to Raise Prices for Iconic Watches

Gold prices are expected to continue their upward trajectory in 2025, though at a slower pace compared to last year's remarkable 27% rally. Analysts anticipate a 7% increase from current levels by the end of the year, signaling a more moderate yet steady rise.
What Happened: Wall Street analysts project that gold prices will climb to about $2,795 per troy ounce by the end of 2025, a 7% increase from current levels, Financial Times <a href="https://www.ft.com/content/9fa96c1d-03f2-4d25-9644-b29ae19407aa">reported</a> on Thursday. This forecast comes on the heels of significant central bank purchases, which saw global institutions buy 694 tonnes of gold in the first nine months of 2024.
Key drivers of the expected increase include central banks' diversification away from the U.S. dollar following sanctions on Russia, anticipated interest rate cuts by the U.S. Federal Reserve, and rising concerns about U.S. government debt under President-elect Donald Trump.
Henrik Marx, global head of trading at Heraeus Precious Metals, said, &#8220;Whatever he announces will increase debt, leading to a weaker dollar and increased inflation. That is usually a nice mixture for gold."
 Geopolitical tensions in the Middle East and Ukraine are also contributing to the bullish outlook for gold.
See Also: <a href="https://www.benzinga.com/tech/25/01/42757901/elon-musk-fireworks-or-explosive-device-caused-fatal-cybertruck-incident-at-las-vegas-trump-hotel-vehicle-was-rented">Elon Musk: Fireworks Or Explosive Device Caused Fatal Cybertruck Incident At Las Vegas Trump Hotel; Vehicle Was Rented</a>
Notably, Goldman Sachs has issued the most optimistic forecast, expecting prices to hit $3,000 per troy ounce by year's end. Meanwhile, Barclays and Macquarie have issued more conservative projections, predicting a drop to approximately $2,500 per troy ounce, a 4% decline from current levels. 
"Momentum is taking back over, combined with geopolitical tensions, which is going to add more fuel to the fire," said Michael Haigh, head of commodities research at Société Générale. Haigh predicts that gold prices could reach $2,900 per troy ounce by the end of 2025.
Why It Matters: Gold's role as a safe-haven asset remains prominent amid global economic uncertainties and geopolitical tensions. Central banks have been increasingly diversifying their reserves, moving away from the dollar to mitigate risks. The World Gold Council has described this year's growth as "positive but much more modest" compared to 2024.
However, the rise of alternative assets like Bitcoin ETFs is also reshaping the investment landscape. Investors are exploring new <a href="https://www.benzinga.com/etfs/currency-etfs/24/12/42750554/golds-shine-fades-as-bitcoin-etfs-rise-the-new-safe-haven-champion">safe-haven options</a>, potentially challenging gold's dominance in this space. The interplay between traditional and emerging assets will be a critical trend to watch in 2025.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, gold ETFs have increased in the past one year, as of Tuesday, 31st Dec. SPDR Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) was up by 26.85%, iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) was rose by 26.85% and abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) was up by 26.90%. Meanwhile, Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) fell by 14.32% over the year, Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) dropped by 10% while Royal Gold, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>) increased by 9%.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
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Gold Prices To Climb 7% In 2025 Amid Trump's Return To White House And Geopolitical Tensions: 'Momentum Is Taking Back Over'

Analysts predict a good year for gold in 2025 after it&#8217;s poised for the best annual performance in over a decade in 2024. However, Michael Saylor, co-founder and executive chairman of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), has <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">called for a dramatic shift </a>in U.S. economic strategy, urging the country to abandon gold as a reserve asset in favor of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What Happened: The World Gold Council in its 2025 outlook has outlined three scenarios for the precious metal in the upcoming year. According to them, gold will &#8220;remain rangebound&#8221; if existing market expectations are correct.
Explaining its rationale for the rangebound assertion, the council notes that &#8220;a combination of higher rates and lower economic growth could negatively affect investors and consumers.&#8221;
On the flip side, &#8220;significantly lower interest rates or a deterioration in geopolitics or market conditions will improve gold's performance.&#8221;
JPMorgan has said that it expects gold prices to &#8220;find continued support from central banks, particularly in emerging markets. Critically, gold—the original safe-haven asset—can serve as an attractive hedge against both geopolitical risk and uncertainty around sovereign debt and deficits.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">Michael Saylor Urges US To Ditch Gold For Bitcoin: &#8216;Sell The Past, Own The Future&#8217;</a>
Goldman Sachs, on the other hand, forecasts gold prices will reach $2,700 by early next year, &#8220;buoyed by interest rate cuts by the Federal Reserve and gold purchases by emerging market central banks. The metal could get an additional boost if the U.S. imposes new financial sanctions or if concerns mount about the U.S. debt burden.&#8221;
Bitcoin Bulls Disagree
Despite a largely positive outlook for gold in 2025, few Bitcoin bulls think differently. Speaking on an episode of the Galaxy Brains podcast, Saylor labeled gold as a "shiny dead rock.&#8221;
"If you want to elevate the U.S.&#8217;s economic leadership in the world, there are two very simple strategies," Saylor said. "Dump the gold and buy Bitcoin."
He suggested that replacing gold with Bitcoin as a strategic reserve asset would allow the U.S. to demonetize gold—an asset heavily held by rival nations—and capitalize on Bitcoin&#8217;s growth potential.
Price Action: Gold spot prices have risen by 28.63% year-to-date, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. This is gold&#8217;s best performance since 2007 when gold surged by over 31%.
Here&#8217;s how a few other gold ETFs have performed this year.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>ETFs</td>
<td>YTD Performance</td>
</tr>
<tr>
<td>Franklin Responsibly Sourced Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FGDL#NYSE">FGDL</a>)</td>
<td>29.07%</td>
</tr>
<tr>
<td>iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>)</td>
<td>28.52%</td>
</tr>
<tr>
<td>SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>)</td>
<td>28.55%</td>
</tr>
<tr>
<td>Aberdeen Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>)</td>
<td>28.46%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-1024x576.png" alt="" class="wp-image-693140" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
In comparison, Bitcoin ETFs have surged over four times during the same period.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>ETF</td>
<td>YTD Performance</td>
</tr>
<tr>
<td>Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>)</td>
<td>138.83%</td>
</tr>
<tr>
<td>Grayscale Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITC#NYSE">BITC</a>)</td>
<td>123.13%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-1024x576.png" alt="" class="wp-image-693139" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42495307/charlie-munger-identified-this-stock-30-years-ago-after-warren-buffett-passed-on-it-heres-how-it-is-doing-as-it-accomplishes-four-milestones-in-its-current-quarter">Charlie Munger Identified This Stock 30 Years Ago After Warren Buffett Passed On It: Here&#8217;s How It Is Doing Now</a></li>
</ul>
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Gold Poised For Its Best Year In A Decade While Bitcoin Surges: Analysts Eye 2025 As A Golden Era For Precious Metal Amid Michael Saylor's Push For BTC As A Reserve Asset

Goldman Sachs has projected a substantial increase in gold prices for the coming year, driven by heightened central bank acquisitions and expected reductions in U.S. interest rates.
What Happened: Goldman Sachs has identified gold as a leading commodity trade for 2025, with prices anticipated to reach $3,000 per ounce by December 2025. Analysts, including Daan Struyven, pointed to increasing demand from central banks as a key driver of this forecast, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-11-18/goldman-says-go-for-gold-as-central-banks-buy-fed-cuts-in-25">reported</a> on Monday.
"Go for gold," analysts said in a note.
They also foresee a cyclical boost from rising investments in exchange-traded funds (ETFs) as the Federal Reserve enacts rate cuts. Additionally, geopolitical risks, particularly concerning Iran, could influence oil supply due to potential increased U.S. support for Israel and stricter sanctions enforcement.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Soars Over 5% In Overnight Trading As Trump Administration Reportedly Seeks To Ease FSD Norms</a>
Gold ETFs have demonstrated robust performance in terms of year-to-date (YTD) returns, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) has risen 24.05%, iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) increased by 24.22%, SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>) climbed by 24.38%, abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) gained 24.29%, and iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>) advanced 24.08% year-to-date.
Why It Matters: The forecast by Goldman Sachs comes amid significant movements in the gold market. In October, the SPDR Gold Trust (GLD), the largest physically backed gold ETF, experienced its highest monthly<a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41663633/biggest-gold-etf-posts-highest-monthly-inflows-in-2-5-years-as-investors-rush-to-"> inflows in 2.5 years earlier this month,</a> driven by economic and policy uncertainties surrounding the U.S. presidential election. This influx pushed the fund&#8217;s assets under management to $79.7 billion by the end of October, with $1.8 billion in net inflows for the month.
However, the sentiment shifted dramatically after Donald Trump&#8216;s election victory, leading to a<a href="https://www.benzinga.com/etfs/specialty-etfs/24/11/41888750/gold-etf-hit-with-1-billion-outflow-investors-dump-safe-haven-asset-after-trump-win"> $1 billion outflow </a>from the SPDR Gold Trust (GLD) in early November. This marked the largest weekly outflow in over two years, as investors moved away from the safe-haven asset, anticipating a strong dollar under Trump&#8217;s second term.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
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'Go For Gold,' Says Goldman Sachs: Precious Yellow Metal Price Would Rise In 2025 Amid Central Bank Buying, Fed Rate Cuts

The Federal Reserve started the new rate cycle era last week, infusing strong optimism in various areas of the global markets and commodities. Wall Street has been hovering around a 52-week high. While the gains were broad-based, some areas were the biggest gainers and hit a 52-week high each on Sept. 20, 2024. We have highlighted three ETF areas that came to the forefront due to the Fed-induced rally.
<h2>Inside the Latest Fed Rate Cut</h2>
On Wednesday, the Fed announced a 50-basis-point cut in interest rates, marking its first reduction since March 2020. The new benchmark policy rate now stands between 4.75% and 5.00%. The rate cut was widely anticipated, though there was uncertainty over its size. A 25-basis-point reduction was expected by many, but softer-than-expected economic data led to calls for a larger cut. Ultimately, the Fed opted for the half-percentage-point reduction.
<h2>Further Rate Cuts Expected by Year-End</h2>
The Federal Open Market Committee&#39;s (FOMC) &quot;dot plot&quot; of individual officials&#39; projections indicates the possibility of another 50 basis points of cuts by the end of the year, aligning with market expectations. The committee also forecasts an additional percentage point of cuts by 2025 and another half-point cut by 2026, eventually reducing the benchmark rate by 2 percentage points.
Against this backdrop, below we highlight a few winning exchange-traded funds areas.
<h2>Winning ETF Sectors</h2>
<h2>Utilities ETF</h2>
The Utility sector tends to be stable and provides consistent dividends. This sector also performs better in a low-rate environment. Virtus Reaves Utilities ETF (ARCA:UTES), S&amp;P 500 Utilities Sector SPDR (ARCA:XLU) and Fidelity Utilities MSCI ETF (ARCA:FUTY) are the utilities ETFs that hit a 52-week high on Sept. 20, 2024.
<h2>India ETF</h2>
India ETFs are also hitting highs. Franklin India ETF (ARCA:FLIN), India Internet &amp; Ecommerce ETF (ARCA:INQQ), First Trust India Nifty 50 Equal Weight ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nfty#NASDAQ">NFTY</a>) and Columbia India Consumer ETF (ARCA:INCO), probably saw a spike on the likelihood of a falling U.S. dollar.
India&#39;s potential for growth makes it an attractive choice for investors. Recent upgrades in growth forecasts for the country, driven by robust public investment and strong private consumption, have boosted the prospects for these ETFs.
Consumers in India are expected to increase their spending on both essential and non-essential items per the country&#39;s central bank, a trend likely to continue over the next year. The forecasted rise in consumer consumption in the upcoming festive season is a tailwind.
<h2>Gold ETF</h2>
Gold bullion ETFs like iShares Gold Trust Micro (ARCA:IAUM), GraniteShares Gold Trust Shares (ARCA:BAR), Vaneck Merk Gold ETF (ARCA:OUNZ) and Physical Gold ETF (ARCA:SGOL) have hit a 52-week high lately. As the Fed eased its policy, the greenback lost strength and bond yields fell. Both factors should go in favor of gold investing.
<a href="https://www.zacks.com/stock/news/2340099/3-etf-sectors-hitting-52-week-highs-after-fed-rate-cut?cid=CS-BENZ-FT-etf_news_and_commentary-2340099">To read this article on Zacks.com click here.</a>

Mid Cap

Sector ETFs

Dividends

Events

Federal Reserve

FLIN

FUTY

INCO

Exchange Traded Concepts Trust India Internet & Ecommerce ETF

INQQ

NFTY

UTES

3 ETF Sectors Hitting 52-Week Highs After Fed Rate Cut

Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reinforced its bullish outlook on gold, citing increased central bank demand and expectations of a U.S. Federal Reserve <a target="_blank" href="https://www.benzinga.com/federal-reserve" rel="noreferrer noopener">interest rate cut</a> tomorrow.
"While we see some tactical downside to gold prices under our economists' base case of a 25bp Fed cut on Wednesday, we reiterate our long gold trading recommendation and our price target of $2,700/oz by early 2025," the investment bank said in a note.
With the price of gold making new all-time highs, reaching 2589.60 on the spot market, the two-quarter upside price target of 5% doesn't seem much. At the moment, the market is pricing a 65% chance of a 50-basis-point cut tomorrow, <a target="_blank" href="https://www.google.com/search?client=firefox-b-d&amp;q=cme+fed+watchtool" rel="noreferrer noopener">per</a> the CME FedWatch tool.
Now read:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40861213/why-interest-rate-cuts-wont-automatically-boost-the-stock-market" rel="noreferrer noopener"> Why Interest Rate Cuts Won't Automatically Boost The Stock Market</a>
Gold is traditionally seen as a hedge against inflation and economic uncertainty. With the U.S. recession still in discussion and a Fed pivot toward more accommodative monetary policies, investor interest in gold is <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40689742/goldman-sachs-bullish-on-gold-wall-street-giant-targets-2-700-by-early-2025-driven-" rel="noreferrer noopener">expected to remain strong</a>, accompanied by buying from foreign central banks, <a target="_blank" href="https://www.benzinga.com/markets/asia/24/05/38649656/how-chinas-central-bank-gold-buying-frenzy-drove-prices-to-record-highs-attracting-gen-z-to-gold-bea" rel="noreferrer noopener">particularly China</a>.
The Fed's anticipated rate cuts could <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40861213/why-interest-rate-cuts-wont-automatically-boost-the-stock-market" rel="noreferrer noopener">lower bond yields</a>, making gold more attractive as it does not generate interest.
In contrast to its positive gold outlook, the bank recently downgraded its projection for iron ore prices. The bank slashed its fourth-quarter 2024 forecast by $15 per metric ton, lowering it to $85 due to concerns of oversupply despite stabilizing demand from China.
Despite China's attempts at economic stimulus and rising steel demand, the broader economic slowdown and the real estate crisis have dampened demand for iron ore. Its futures briefly dipped below $90, reaching the lowest point in almost two years.
Goldman noted that while there might be short-term support due to restocking ahead of the holiday week in October, but the continued buildup of iron ore inventories is likely to drive prices further down.
Supply-demand imbalances have been a key issue for the market, particularly with major players like Brazil's Vale and Australia's BHP maintaining production levels.
Kallanish Consulting analyst Ian Roper explained the current price dynamics <a target="_blank" href="https://www.bnnbloomberg.ca/business/international/2024/09/11/iron-ore-tests-floor-as-plunge-to-90-a-ton-puts-mines-at-risk/" rel="noreferrer noopener">for</a> Bloomberg.
"We need to eliminate about 100 million tons to balance this market, and to do that, we need prices to settle in the $80s," he noted.
Also read:
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<li><a href="https://www.benzinga.com/news/24/09/40875211/bhp-group-sounds-alarm-on-copper-supply-ai-and-ev-growth-could-drive-prices-soaring-report" target="_blank" rel="noreferrer noopener">BHP Group Sounds Alarm on Copper Supply, AI and EV Growth Could Drive Prices Soaring: Report</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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PICK

Market Vectors Rare Earth/Strategic Metals Etf

REMX

SILJ

SLVP

Goldman Sachs Sees Gold Higher, Takes A Downbeat Stance On Iron Ore

As the price of gold continues to soar, prominent economists Mohamed A. El-Erian and Peter Schiff are emphasizing the ongoing strength of the gold market. El-Erian highlights the significant expansion of the commodity rally, while Schiff underscores the importance of holding onto gold and silver assets amid a promising market outlook.
What Happened: El-Erian, the chief economic advisor at Allianz, took to X to share his thoughts on the recent surge in gold prices. He pointed out that the price of gold has hit over 20 new highs this year, with the latest highs being accompanied by a significant expansion of the commodity rally. El-Erian also noted that the drivers behind these highs now include a wider range of demand and supply factors.
&#8220;This month's new highs in the price of #gold is not unusual,&#8221; El-Erian wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This month's new highs in the price of <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> is not unusual. We have had over twenty new highs so far this year. What I find more notable: (i) Recent highs have been accompanied by a significant broadening of the commodity rally; and (ii) Drivers now encompass a wider set of… <a href="https://t.co/TnynVeWSnQ">pic.twitter.com/TnynVeWSnQ</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1792983521247764516?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, Schiff, a <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38911373/peter-schiff-says-bitcoin-is-dead-long-live-silver-but-is-it-really-true">well-known gold advocate</a> and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) critic, also took to X to advise investors to hold on to their gold and silver assets. He warned that selling during a bull market is easy, but buying back in is the hard part. Schiff believes that the current gold rally is just getting started and that good things come to those who wait.
&#8220;Don&#8217;t sell any of your #gold or #silver. It&#8217;s easy to sell out of a bull market. The hard part is buying back in. Just sit tight and enjoy the ride. It&#8217;s likely just getting started. Good things come to those who wait. We&#8217;ve waited a long time, so what&#8217;s coming should be great,&#8221; Schiff wrote. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Don&#39;t sell any of your <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> or <a href="https://twitter.com/hashtag/silver?src=hash&amp;ref_src=twsrc%5Etfw">#silver</a>. It&#39;s easy to sell out of a bull market. The hard part is buying back in. Just sit tight and enjoy the ride. It&#39;s likely just getting started. Good things come to those who wait. We&#39;ve waited a long time, so what&#39;s coming should be great.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1792997390334513439?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Investors interested in gold ETFs might check&nbsp;SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), Abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>), VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), which invests in global gold miner equities.
<a href="https://x.com/PeterSchiff/status/1792997390334513439"></a>See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38910906/bitcoin-dogecoin-ethereum-retrace-on-profit-taking-by-retail-investors-analyst-predicts-pa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Dogecoin, Ethereum Retrace On Profit-Taking By Retail Investors: Analyst Predicts Parabolic Rise For King Crypto Following Consolidation Phase</a>
Why It Matters: The price of gold has been on a steady rise, recently hitting a new record high of $2,450 per ounce. This surge is attributed to the expectation that the U.S. Federal Reserve <a href="https://www.benzinga.com/trading-ideas/24/05/38941163/gold-shatters-expectations-with-a-record-high-of-2-450-per-ounce-amid-expectations-of-lower-interes">might lower interest rates</a> by September, making gold a more attractive investment option.
This trend has also been reflected in the actions of prominent investors. For instance, Michael Burry, the legendary investor who predicted the 2008 financial crisis, <a href="https://www.benzinga.com/markets/asia/24/05/38878116/big-short-investor-michael-burry-bets-heavy-on-gold-renewable-energy-stocks-exits-amazon-alphabet">recently made significant bets on gold</a> and renewable energy stocks, indicating a shift in investment strategies towards physical commodities and renewable energy.
However, not everyone is optimistic about the economic situation. Schiff, who is also the CEO of Euro Pacific Capital, recently criticized President Joe Biden&#8216;s new tariffs, <a href="https://www.benzinga.com/news/24/05/38862552/mohamed-el-erian-says-bond-and-equity-prices-getting-a-boost-after-softer-than-expected-headline-cpi">labeling them as taxes</a> that will only add to the economic misery.
Price Action: On Tuesday, Gold spot prices closed at $2,422 per ounce, up 0.07%, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38909046/top-trader-ditches-bitcoin-for-altcoins-dogecoin-killer-shiba-inus-potential-breakout-and-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Top Trader Ditches Bitcoin For Altcoins, &#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Potential Breakout And More</a>
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Mohamed El-Erian And Bitcoin-Critic Peter Schiff Highlight Gold's Soaring Prices And Market Momentum: 'Just Sit Tight And Enjoy The Ride'

U.S. government debt is reaching unsustainable levels, and the latest analysis points to an even<a href="https://www.benzinga.com/news/treasuries/24/02/37227285/government-debt-exceeds-120-of-gdp-why-former-imf-economist-very-worried-about-us-fiscal-crisis"> more concerning future.</a>
A new economic model developed by Bloomberg Economics predicts that in 88% of scenarios, U.S. debt as a percentage of GDP will rise in the coming 10 years.
In a Monday letter to investors, Citadel founder Ken Griffin <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38039631/ken-griffin-slams-irresponsible-us-deficit-we-must-stop-borrowing-at-the-expense-">referred to mounting national debt as a significant issue</a>, saying that &#8220;we must stop borrowing at the expense of future generations.&#8221;
According to a recent survey, about 85% of Americans worry that current debt levels <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37324835/ticking-time-bomb-over-85-of-americans-fear-national-debt-crisis-impact-on-their-fu">could have a negative impact in their future</a>.
Official data from the St. Louis Fed shows that debt equaled 121% of the country&#8217;s GDP in the last quarter of 2023. The rate has floated around 120% in past years, after peaking at 132% during the COVID pandemic. These levels are above a previous historical record set following World War II.
In late May 2023, <a href="https://www.benzinga.com/news/23/06/32704441/biden-signs-debt-ceiling-bill-to-avert-government-default">the government averted a default by raising the debt limit even higher</a> in an emergency measure. While lawmakers on both sides of the aisle agree that government borrowing has reached unhealthy levels, a lack of agreement as to how to solve the problem keeps Congress from finding a satisfactory solution.
Earlier this year Fed Chair Jerome Powell said that the current rate of debt acquisition <a href="https://www.benzinga.com/startups/24/02/37156426/jerome-powell-says-34-trillion-national-debt-is-ready-for-an-adult-conversation-janet-yellen-calls-s">means we're ​​&#8221;borrowing from future generations,"</a> and called for elected officials to have an adult conversation "about getting the federal government back on a sustainable fiscal path.&#8221;
With <a href="https://www.benzinga.com/general/24/03/37851477/u-s-national-debt-has-increased-by-nearly-8-5-billion-per-day-over-the-past-year">national debt increasing by an average of $8.5 billion a day during the past year</a>, Republicans generally argue for spending cuts, while Democrats point towards problems in tax revenue and high interest rates as the causes behind the rising fiscal deficit.
A recent budget proposal by President Joe Biden is aimed at reducing the federal deficit by $3 trillion in the next decade <a href="https://www.benzinga.com/24/03/37603424/bidens-budget-aims-to-slash-us-deficit-by-3-trillion-next-decade-through-higher-taxes-on-wealthy-big">by raising taxes on wealthy individuals and corporations</a>.
Where To Find Safe Haven: Bank of America chief strategist Michael Hartnett recently linked a rise in <a href="https://www.benzinga.com/money/how-to-invest-in-gold">gold</a> and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) with rising concerns over debt, as investors look for hedges against a possible debt-led crises affecting the U.S. economy.
As opposed to the U.S. dollar, which can be emitted to infinity by printing new cash, both Bitcoin and gold have a cap on their supply, making them safer assets to store value in times of economic volatility.
Also read: <a href="https://www.benzinga.com//node/37227285">Government Debt Exceeds 120% Of GDP: Why Former IMF Economist &#8216;Very Worried&#8217; About US Fiscal Crisis</a>
SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), the largest ETF following the gold market by total assets, has gained over 23% in the last six months. Other gold ETFs, including iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) and Abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) follow a similar trajectory.
<a href="https://www.benzinga.com//node/38053974">Bitcoin has hit a slump this week,</a> losing 5% of its value at the time of writing on Tuesday, yet the cryptocurrency has been enjoying a rally in recent months.
When concerns about national debt dominate the news, investors typically seek assets known for retaining value. With the debt ceiling suspension set to last until Jan. 1, 2025, Congress is likely to face another stand-off on debt issues following the <a href="https://www.benzinga.com/topic/2024-election">presidential election in November</a>, regardless of the winning candidate.
Real estate is another sector known to serve as a store of value, and investors can take part without the need to buy actual land. ETFs following the sector reflect its growth trends, with some of the largest being Vanguard Real Estate Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) and Schwab US REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHH#NYSE">SCHH</a>).
ETFs following companies in Europe, Asia, Australia and other developed territories, also known as foreign asset ETFs, can also serve as a safe haven from U.S. volatility. Some of the largest include Vanguard Tax Managed Fund FTSE Developed Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEA#NYSE">VEA</a>) as well as iShares Core MSCI EAFE ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEFA#BATS">IEFA</a>).
The new <a href="https://www.bloomberg.com/news/articles/2024-04-01/us-government-debt-risk-a-million-simulations-show-danger-ahead?srnd=homepage-europe&amp;sref=TBDibEcD">report</a> by Bloomberg Economics executed one million simulations tinkering with several variables in order to encompass the widest possible range of future scenarios. In 88% of the scenarios, the debt ratio went up between now and 2034, making the path of U.S. government debt unsustainable.
Bloomberg's team started its analysis by setting off from projections published by the Congressional Budget Office, which warned earlier this year that the fiscal deficit is spinning out of control, even when assuming that inflation will stabilize at 2% and the<a href="https://www.benzinga.com//node/38021818"> Fed will drop interest rates</a>.
The firm used a computational analysis which created a model using "market pricing for future interest rates and data on the maturity profile of bonds," and its results surpassed Congress' predictions, taking U.S. debt into new records over the coming decade.
Now read: <a href="https://www.benzinga.com//node/37839953">Elon Musk Calls For &#8216;Strong-Willed President&#8217; After GOP Rep Warns &#8216;Economic Catastrophe Must Happen&#8217; Before Congress Gets Serious About &#8216;Out-Of-Control Spending&#8217;</a>
Photo: Shutterstock

Macro Economic Events

Politics

IEFA

SCHH

National Debt Drama Deepens: Where To Stash Your Cash When The Fiscal Sky Falls

Global physically backed gold ETFs recorded outflows for the ninth consecutive month despite gold trading at <a href="https://www.benzinga.com/news/large-cap/24/03/37547023/gold-shines-brighter-than-ai-driven-semiconductor-stocks-7-mining-stocks-to-watch-with-prices-at-r">fresh all-time highs</a>.
Outflows from these ETFs amounted to $5.7 billion year-to-date, mainly in North America, which accounted for $4.7 billion. The <a href="https://www.gold.org/goldhub/research/gold-etfs-holdings-and-flows/2024/02">data</a> included a $2.9 billion outflow in February, pointing at a potentially accelerating downtrend.
According <a href="https://www.gold.org/news-and-events/press-releases/geopolitical-and-economic-uncertainty-bolster-gold-demand-and-prices">to</a> The World Gold Council, factors contributing to this trend include a strong labor market, higher-than-expected inflation and investor expectations of a potential rate cut by the Federal Reserve. 
The rebound in the 10-year Treasury yield and a stronger dollar further weighed on gold prices and ETF holdings in the region. The strength of U.S. equities also diverted investor attention away from gold.
On a global scale, Asia experienced net inflows for the 12th consecutive month, while other regions faced limited losses. Geopolitical tensions, including conflicts in Ukraine, Israel and the Middle East, along with rising trade protectionism and resource nationalism, contributed to disruptions in global supply chains and drove additional interest in the precious metal.
Now Read: <a href="https://www.benzinga.com/news/large-cap/24/03/37547023/gold-shines-brighter-than-ai-driven-semiconductor-stocks-7-mining-stocks-to-watch-with-prices-at-r">Gold Shines Brighter Than AI-Driven Semiconductor Stocks: 7 Mining Stocks To Watch With The Ore At Record Highs</a>
Despite the sustained outflows from gold ETFs, the price surge of precious metal continues, driven by a jump in speculative betting and <a href="https://www.benzinga.com/markets/asia/24/03/37551998/chinas-gold-buying-spree-continues-16-month-streak-challenges-us-dollar-dominance">physical demand from China</a>. Analysts attribute the rise to weak U.S. economic data and anticipation of a Federal Reserve interest rate cut later in the year.
"Central-bank demand for the precious metal remains historically strong, and that&#8217;s clearly helping drive up the gold price as sovereign nations favor the precious metal as a safe haven against the worsening geopolitical outlook,&#8221; Adrian Ash, director of research at BullionVault said in an interview <a href="https://www.marketwatch.com/story/gold-looks-to-score-another-record-high-settlement-but-its-no-gold-rush-in-the-west-457611e1">for</a> MarketWatch.
While Ash clarified these new all-time highs could be vulnerable to central banks because gold pays no income, he added that "any dip could prove a good opportunity to buy into the underlying strength in gold."
Despite Bitcoin&#8217;s rising popularity, gold and Bitcoin ETFs have seen divergent trends. Gold ETFs faced outflows, while Bitcoin ETFs experienced inflows. Yet, <a href="https://www.marketwatch.com/story/gold-looks-to-score-another-record-high-settlement-but-its-no-gold-rush-in-the-west-457611e1">per</a> Martin Leinweber, a digital assets product strategist at MarketVector Indexes, gold and Bitcoin are not yet substitutes. The fact that the former's ETFs have seen inflows while the latter has seen outflows might just be a coincidence since he believed investors still see Bitcoin as a risky asset.
Investors interested in gold ETFs might Check SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), Abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) or VanEck Gold Miners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), which invests in global gold miner equities.
Also Read: <a href="https://www.benzinga.com/news/24/03/37535370/ecuador-joins-the-copper-rush-invests-3-2b-in-solgold">Ecuador Joins The Copper Rush, Invests $3.2B In SolGold</a>
Photo: Pixabay

Specialty ETFs

Gold ETFs Diverge From Spot Prices: Record Ninth Consecutive Month Of Outflows

We performed a screening of mid-cap ETFs &#8211; defined as having Assets Under Management (AUM) between $2 billion and $10 billion &#8211; to determine what funds had the largest change in net assets on the week, according to data from <a href="http://etfdb.com">etfdb.com</a>. Only non-leveraged funds were considered.&nbsp;
<h2 class="wp-block-heading">Winners</h2>
abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>)
SGOL was up 2.71% on the week.
The abrdn Physical Gold Shares ETF provides exposure to the spot price of gold. The fund holds real gold bullion in its vault in Switzerland.
SGOL has $2.78 billion in AUM and an expense ratio of 0.17%.
YTD, SGOL is up 8.41%.
SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>)
GLDM is up 2.61% over the trailing week.
SPDR Gold MiniShares Trust, like SGOL, provides exposure to gold without the need to personally own bullion. The price will move synchronously with the spot price of gold.
GLDM has $6.19 billion in AUM and an expense ratio of 0.10%.&nbsp;
GLDM is up 8.48% YTD.
<h2 class="wp-block-heading">Losers</h2>
Global X Lithium &amp; Battery Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LIT#NYSE">LIT</a>)
LIT is down 7.50% over the trailing week.
The Global X Lithium &amp; Battery Tech ETF is designed to offer exposure to companies involved in the lithium industry, from exploration and mining to the development and manufacture of new technologies. Lithium and lithium-ion batteries are a critical component of much of the technology that drives the modern world.
The fund has $3.37 billion in AUM and an expense ratio of 0.75%. LIT has 42 holdings, with the 10 largest comprising 55.94% of the fund.
The fund's largest holdings are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) making up 7.91% and 7.58% of the fund, respectively.
LIT is down 16.18% YTD.
Vanguard Extended Duration Treasury ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDV#NYSE">EDV</a>)
EDV is down 7.48% over the trailing week.
The Vanguard Extended Duration Treasury ETF provides exposure to long-dated US treasuries. The maturity dates range from 20 to 30 years.
The fund has $2.19 billion in AUM and an expense ratio of .06%.
EDV is down 21.71% YTD.

TSLA

Gold Up For Another Week Approaching All-Time High, Gold Funds Pop - ETF Winners And Losers: Mid-Cap Returns

<ul>
<li>Gold rose 0.16% to $1,940.15 at 04.30 AM ET</li>
<li>Silver rose 0.21% to $23.328 at 04.30 AM ET</li>
</ul>

Econ #s

SIVR

Gold And Silver Prices Edge Higher Today, Ahead Of US Inflation Data

After soaring past $1,700 an ounce on Tuesday, gold prices steadied as traders considered whether the U.S.&nbsp;Federal Reserve&nbsp;may&nbsp;<a href="https://www.benzinga.com/news/22/10/29132071/nasdaq-s-p-futures-rally-amid-hopes-of-thawing-in-feds-hawkish-stance-rivian-apple-among-stocks-movi" target="_blank">tone down its hawkish stance</a>&nbsp;post the release of weak economic data.&nbsp;
U.S. manufacturing activity slowed down in September, growing at its slowest pace in nearly two-and-a-half years. The&nbsp;ISM&#39;s&nbsp;manufacturing PMI fell to 50.9, the lowest reading since May 2020.
Job openings, too, dropped by the most in nearly two-and-a-half years in August, which indicated the labor market was beginning to cool as the economy struggles with higher interest rates,&nbsp;<a href="https://www.reuters.com/markets/us/us-job-openings-post-biggest-drop-nearly-2-12-years-august-2022-10-04/" target="_blank">reported&nbsp;</a>Reuters.
Also Read:&nbsp;<a href="https://www.benzinga.com/money/gold-eft" target="_blank">The Best Gold ETFs</a>
What Happened:&nbsp;Bullion had surged nearly 4% in the last two sessions as higher bond yields and risk aversion pushed traders and investors towards the safe-haven yellow metal.
The rise in gold prices is reflected in ETFs&rsquo; performances as the&nbsp;SPDR Gold MiniShares Trust&nbsp;(NYSE:&nbsp;<a href="https://www.benzinga.com/stock/gldm#NYSE" target="_blank">GLDM</a>) and the&nbsp;abrdn Physical Gold Shares ETF&nbsp;(NYSE:&nbsp;<a href="https://www.benzinga.com/stock/sgol#NYSE" target="_blank">SGOL</a>) gained over 4% in the last five days. Spot Gold was last trading at $1,718/ounce in the Asia session.
More employment data set to be released this week may offer clues on the likely tightening trajectory, the report said.
Expert Take:&nbsp;Ed Moya, senior market analyst at&nbsp;OANDA, said in a note that gold&rsquo;s bottom is in place now that the U.S. is showing clear signs the labor market is softening,&nbsp;<a href="https://www.bloomberg.com/news/articles/2022-10-05/gold-steadies-after-crossing-1-700-as-traders-mull-fed-s-stance?srnd=markets-vp&amp;leadSource=uverify%20wall" target="_blank">reported&nbsp;</a>Bloomberg. As long as non-farm payrolls do not see an &ldquo;extraordinary strong print&rdquo;, gold should remain supported and may test the $1,750 an ounce, he said.
Read Next:&nbsp;<a href="https://www.benzinga.com/general/topics/22/10/29142274/odds-of-a-fed-pivot-well-its-likely-slim" target="_blank">Major Drop In US Job Openings, Will The Fed Now Pivot? Don&#39;t Bet On It</a>

Gold Flatlines After Hitting $1,700: How Weak US Economic Data Is Taking Shine Off Bullion

In 2019, no one should need any convincing that advisors and investors love cheap exchange traded funds. Usually, it&#39;s a case of &ldquo;the cheaper, the better.&rdquo;
<h3>What Happened</h3>
For the uninitiated, the latest example of cheap works is the SPDR Gold MiniShares Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gldm#NYSE">GLDM</a>). GLDM, came to market in June as a cost-effective alternative to the SPDR Gold Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gld#NYSE">GLD</a>), recently topped $1 billion in assets under management.
Thanks to that low fee and <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/08/14346206/golds-rally-has-miners-etfs-strutting-their-bull-market-stuff">soaring gold prices</a>, GLDM has attracted nearly $520 million in assets, or about half its AUM tally, just this year.
<h3>Why It&#39;s Important</h3>
&ldquo;Our low-cost gold ETF with a share price hovering around $15, GLDM has resonated with financial advisors, digital advice platforms and buy-and-hold retail investors,&rdquo; said Matthew Bartolini, Head of SPDR Americas Research at State Street Global Advisors, <a href="https://finance.yahoo.com/news/spdr-gold-minishares-surpasses-1-130000351.html">in a statement</a>.
With an annual fee of 0.18%, or $18 on a $10,000 investment, GLDM is significantly cheaper than GLD. GLD, the world&#39;s largest gold ETF, charges 0.40% per year.
Just two U.S.-listed gold ETFs &ndash; the Aberdeen Standard Physical Swiss Gold Shares ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sgol#NYSE">SGOL</a>) and the Graniteshares Gold Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bar#NYSE">BAR</a>) &ndash; have lower annual fees than GLDM. Those funds charge 0.17% per year.
<h3>What&#39;s Next</h3>
Considering it&#39;s still a fairly new entrant to the gold ETF fray, GLDM&#39;s average daily volume of 1.35 million shares is robust, helping keep bid-ask spreads tight and trading costs low for investors.
If there&#39;s one knock on GLDM, it&#39;s that the fund is not yet optionable. GLD is.
&ldquo;GLD remains the largest and most liquid gold ETF in the market with approximately $43.2 billion in total net assets and $5.23 billion of net new inflows year-to-date,&rdquo; according to State Street.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/09/14509860/looking-at-the-newest-s-p-500-sector-one-year-later">A Look At The Newest Sector And Its Biggest ETF</a>
<a href="https://www.benzinga.com/markets/cannabis/19/09/14509858/will-the-safe-act-benefit-marijuana-etfs">This Bill Could Lift Pot ETFs</a>

A Cheap Gold ETF Joins The $1B Club

Despite the bullishness in the stock market, gold maintained its sheen this year thanks to geopolitical concerns, instability in Europe and United States as well as lofty stock valuations. This is especially true, as the bullion has risen about 9.2% while the S&amp;P 500 Index has gained 13.2% in the year-to-date time frame. &nbsp;
	After the fourth consecutive weekly loss, gold price rebounded to a two-week high toward $1,300 per ounce level as uptick in geopolitical uncertainty raised demand for the precious metal as a safe haven. Tensions between the United States and North Korea flared up again this week after President Donald Trump tweeted that years of talking with North Korea over its nuclear buildup have proved futile and that &quot;only one thing will work.&quot; This sparked fears of World War 3, raising the appeal for the metal as a store of value and hedge against market turmoil. In addition, a Russian report shows that North Korea is preparing to test a missile that could potentially reach the United States (read: <a href="https://www.zacks.com/stock/news/278162/etf-strategies-to-benefit-from-north-korea-tensions">ETF Strategies to Benefit from North Korea Tensions</a>).
	Further, a soft dollar and dovish Fed minutes added to the strength. Though the December rate hike expectation remains intact, the minutes revealed low inflation concerns pushing the greenback down. The dollar index, which measures the greenback&#39;s value against a basket of six major currencies, touched its <a href="https://uk.reuters.com/article/uk-global-forex/dollar-slips-after-fed-minutes-eyes-on-u-s-inflation-data-idUKKBN1CH06W">lowest level since Sep 26</a>. A rise in euro is putting further pressure on the greenback. A weak dollar is a huge boon to gold prices, as it makes gold cheap for holders of other currencies.
	Moreover, higher demand in India, the world&#39;s second-biggest consumer of gold, is lending support to the price of the yellow metal. Notably, demand in India tends to rise in the final quarter due to the wedding and festive season (read: <a href="https://www.zacks.com/stock/news/274380/what-lies-ahead-for-gold-etfs">What Lies Ahead for Gold ETFs?</a>).&nbsp; &nbsp;
	How to Play?
	Given the optimism and intense buying pressure on gold, investors have a long list of options in the ETF world to tap the metal&#39;s rally.
	Gold ETFs
	While there are many products that are directly linked to the spot gold price or futures, we have highlighted the three most-popular ETFs. These have gained more than 12% in the year-to-date time frame and carry a favorable Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
	SPDR Gold Trust ETF GLD: This is the largest and most popular ETF in the gold space with AUM of $35.3 billion and average daily volume of around 7.8 million shares. The fund tracks the price of gold bullion measured in U.S. dollars, and kept in London under the custody of HSBC Bank USA. Expense ratio comes in at 0.40%.
	iShares Gold Trust IAU: This ETF offers exposure to the day-to-day movement of the price of gold bullion and is backed by physical gold under the custody of JP Morgan Chase Bank in London. It has AUM of $9.4 billion and trades in solid volume of 8.8 million shares a day on average. The ETF charges 25 bps in annual fees. &nbsp;
	ETFS Physical Swiss Gold Shares SGOL: This product also tracks the price of gold bullion and is backed by physical bullion under the custody of JPMorgan Chase Bank. It has amassed more than $1.0 billion in its asset base and trades in lower volume of 32,000 shares per day. The product has an expense ratio of 0.39% (read: <a href="https://www.zacks.com/stock/news/274380/what-lies-ahead-for-gold-etfs">What Lies Ahead for Gold ETFs?</a>).
	Leveraged Gold ETFs
	Investors who are bullish on gold may consider a near-term long on the precious metal with the following ETFs depending on their risk appetite.
	ProShares Ultra Gold ETF UGL: This fund seeks to deliver twice (2x or 200%) the return of the daily performance of gold bullion in U.S. dollars. It charges 95 bps in fees a year and has amassed $90.6 million in its asset base. Volume is light at about 41,000 shares per day. The ETF has gained 21.6% so far this year.
	DB Gold Double Long ETN DGP: This ETN seeks to deliver twice the return of the daily performance of the DBIQ Optimum Yield Gold Index Excess Return, charging 75 bps in fees per year. It has accumulated $118.4 million in its asset base so far and trades in an average daily volume of 34,000 shares. The ETN is up 24.6% this year (see: <a href="https://www.zacks.com/funds/etfs/etf-categories/Leveraged-Commodity-ETFs-46">all the Leveraged Commodity ETFs here</a>).
	VelocityShares 3x Long Gold ETN UGLD: This product provides three times (3x or 300%) exposure to the daily performance of the S&amp;P GSCI Gold Index Excess Return plus returns from U.S. T-bills net of fees and expenses. The ETN has been able to manage an asset base of $108 million while charging a higher fee of 1.35% annually. However, the note trades in a solid volume of about 669,000 shares a day on average and has surged 32.3% in the year-to-date time frame.
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	<a href="http://www.zacks.com/registration/pfp/?ALERT=ETF225&amp;adid=BENZ_CONTENT_ETF_ARTCAT_ETF_NEWS_AND_COMMENTARY&amp;d_alert=rd_final_rank&amp;t=UGL&amp;split=1&amp;cid=CS-BENZ-FT-278574">PRO-ULT GOLD (ETF:UGL): ETF Research Reports</a> 
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	<a href="http://www.zacks.com/registration/pfp/?ALERT=ETF225&amp;adid=BENZ_CONTENT_ETF_ARTCAT_ETF_NEWS_AND_COMMENTARY&amp;d_alert=rd_final_rank&amp;t=UGLD&amp;split=1&amp;cid=CS-BENZ-FT-278574">VEL-3X LNG GOLD (ETF:UGLD): ETF Research Reports</a> 
	&nbsp; 
	<a href="http://www.zacks.com/registration/pfp/?ALERT=ETF225&amp;adid=BENZ_CONTENT_ETF_ARTCAT_ETF_NEWS_AND_COMMENTARY&amp;d_alert=rd_final_rank&amp;t=DGP&amp;split=1&amp;cid=CS-BENZ-FT-278574">DB GD 2XL (ETF:DGP): ETF Research Reports</a> 
	&nbsp; 
	<a href="http://www.zacks.com/stock/news/278574/gold-set-to-sparkle-in-q4-etfs-to-consider?cid=CS-BENZ-FT-278574">To read this article on Zacks.com click here.</a>

UGLD

Gold Set To Sparkle In Q4: ETFs To Consider

The U.S. dollar is one of this year&#39;s most disappointing developed market currencies, but that is not helping the commodities complex. Most commodities, an asset class denominated in dollars, are sagging, but some precious metals have been notable exceptions.
Among exchange-traded products, the ETFS Gold Trust (NYSE: <a class="ticker" href="/stock/sgol#NYSE">SGOL</a>) is up 9.4 percent year to date while the ETFS Physical Palladium Shares (NYSE: <a class="ticker" href="/stock/pall#NYSE">PALL</a>) is up a stunning 26.9 percent. Sturdy precious metals prices are helping the ETFS Precious Metals Baskets Trust (NYSE: <a class="ticker" href="/stock/gltr#NYSE">GLTR</a>) to a year-to-date gain of more than 8 percent.
<h3>All That Glitters ...</h3>
GLTR holds a basket of physical gold, silver, palladium and platinum.
&ldquo;Given this action in Precious Metals amid the FOMC rate backdrop, we are also looking at diversified &#39;Precious Metal&#39; ETPs that generally appeal to those investors and portfolio managers whom prefer &#39;basket&#39; exposure to the space as opposed to betting on specifically Gold or Silver for example,&rdquo; said <a href="http://streetonefinancial.com/">Street One Financial</a> Vice President Paul Weisbruch in a note out Wednesday.
<h3>Pondering Palladium</h3>
Although gold and silver loom large in GLTR, palladium, until this week, has been helping the ETF surge.
&ldquo;The background for palladium is for good industrial demand and likely a significant market deficit this year, and on top of course you&rsquo;ve got this speculative squeeze,&rdquo; Mitsubishi analyst Jonathan Butler said, <a href="http://www.reuters.com/article/us-global-precious-idUSKBN1902H0">reported Reuters</a>.
Palladium supply is expected to be in a deficit again this year, which could help deliver more upside for PALL and GLTR.
&ldquo;Traders reported a reluctance to lend the metal, suggesting tightness in near-term supply. Chart patterns indicate that the metal is vulnerable to a sell-off from these elevated levels, however, technical analysts said,&rdquo; according to Reuters.
<h3>Macro Trends, Influences</h3>
While precious metals retreated Wednesday after the Federal Reserve boosted interest rates, inflation could portend more benefits for gold and friends.
As <a href="https://www.benzinga.com/trading-ideas/long-ideas/17/05/9417254/a-surprise-friend-for-gold-etfs">Benzinga reported earlier this year</a>, &ldquo;Data suggests inflation is rising, which could bode well for gold ETFs because the yellow metal is often embraced as an inflation hedge. Accounting for inflation, real U.S. interest rates are in negative territory, further increasing the potential for out-performance by gold relative to other safe-haven assets.&rdquo;
Related Links:
<a href="https://www.benzinga.com/news/17/06/9609279/fed-hikes-rates-without-disrupting-the-market-classic-yellen">Fed Hikes Rates Without Disrupting The Market: 'Classic Yellen'</a>
<a href="https://www.benzinga.com/general/education/17/06/9608611/is-bitcoin-the-new-gold-still-too-early-to-say">Is Bitcoin The New Gold? Still Too Early To Say</a>

Long Ideas

ETFS Physical Precious Metal Basket Shares

GLTR

PALL

Revisiting An Overlooked Precious Metals ETF

2025년에는 금 가격이 상승세를 지속할 것으로 예상되지만, 지난해 27% 급등에 비해 상승 속도는 느릴 것으로 보인다. 애널리스트들은 연말까지 현재 수준에서 7% 상승할 것으로 예상하며, 이는 보다 완만하면서도 꾸준한 상승을 나타낸다.
무슨 일이 있었나: 월스트리트 애널리스트들은 금 가격이 2025년 말까지 온스당 약 2,795달러로 상승할 것으로 전망하고 있으며, 이는 현재 수준에서 7% 상승한 것이다. 이러한 예측은 중앙은행들의 대규모 금 구매 이후 나왔으며, 2024년 1~9월 동안 전 세계 기관들이 694톤의 금을 구매했다고 <a href="https://www.ft.com/content/9fa96c1d-03f2-4d25-9644-b29ae19407aa">파이낸셜 타임스</a>가 보도했다.
예상되는 상승의 주요 요인은 중앙은행들이 러시아에 대한 제재 이후 미 달러에서 다각화하고, 미국 연방준비제도(연준)가 금리 인하를 예상하며, 도널드 트럼프 대통령 당선자 하의 미국 정부 부채에 대한 우려가 커지는 것이다.
헨리크 마르크스(Henrik Marx), 헤라우스 프레셔스 메탈스 글로벌 트레이딩 책임자는 &#8220;그가 발표하는 어떤 것도 부채를 증가시켜 달러를 약화시키고 인플레이션을 증가시킬 것이다. 이는 일반적으로 금에 좋은 조합이다&#8221;고 말했다.
중동과 우크라이나의 지정학적 긴장도 금 가격 상승에 긍정적인 영향을 미치고 있다.
참고: <a href="https://kr.benzinga.com/news/usa/stocks/%EB%A8%B8%EC%8A%A4%ED%81%AC-%EB%9D%BC%EC%8A%A4%EB%B2%A0%EA%B1%B0%EC%8A%A4%EC%97%90%EC%84%9C-%EB%B6%88%EA%BD%83%EB%86%80%EC%9D%B4%EB%82%98-%ED%8F%AD%EB%B0%9C-%EC%9E%A5%EC%B9%98%EB%A1%9C-%EC%B9%98/" target="_blank" rel="noopener">일론 머스크: 불꽃놀이 또는 폭발 장치가 라스베가스 트럼프 호텔에서 발생한 치명적인 사이버트럭 사고의 원인; 차량은 렌트됨</a>
특히 골드만삭스는 가장 낙관적인 예측을 제시하며, 금 가격이 연말까지 온스당 3,000달러에 이를 것으로 예상했다. 그에 반해 바클레이즈와 맥쿼리는 보수적인 전망을 내놓아 현재 수준에서 약 2,500달러로 하락할 것으로 예상하고 있다.
&#8220;모멘텀이 다시 작용하고 있으며, 지정학적 긴장이 더해져 불을 붙이고 있다&#8221;고 마이클 헤이(Michael Haigh), 소시에테 제네랄 상품 리서치 책임자가 말했다. 헤이는 금 가격이 2025년 말까지 온스당 2,900달러에 이를 것으로 예상하고 있다.
왜 중요한가: 금은 글로벌 경제 불확실성과 지정학적 긴장 속에서 안전 자산으로서의 역할이 여전히 중요하다. 중앙은행들은 위험을 완화하기 위해 달러에서 다각화하고 있다. 세계 금 협의회는 올해의 성장을 &#8220;긍정적이지만 2024년에 비해 훨씬 더 겸손하다&#8221;고 설명했다.
그러나 비트코인 ETF와 같은 대체 자산의 성장은 투자 환경을 재편성하고 있다. 투자자들은 새로운 <a href="https://www.benzinga.com/etfs/currency-etfs/24/12/42750554/golds-shine-fades-as-bitcoin-etfs-rise-the-new-safe-haven-champion">안전자산 옵션</a>을 탐색하고 있으며, 이는 금의 지배력을 위협할 수 있다. 전통 자산과 신흥 자산 간의 상호작용은 2025년에 주목해야 할 중요한 트렌드가 될 것이다.
가격 동향: <a href="https://pro.benzinga.com">Benzinga Pro</a>에 따르면, 금 ETF는 지난해 12월 31일 화요일 기준으로 상승했다. SPDR Gold Shares(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>)는 26.85% 상승했으며, iShares Gold Trust(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>)도 26.85% 상승했다. 또한, abrdn Physical Gold Shares ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>)는 26.90% 상승했다. 반면, 배릭 골드(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)는 14.32% 하락했고, 뉴몬트(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)는 10% 하락했으며, 로열 골드(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>)는 9% 상승했다.
추가로 읽기:
<ul>
<li><a href="https://kr.benzinga.com/crypto/bitcoin/%EB%B9%84%ED%8A%B8%EC%BD%94%EC%9D%B8-%EC%9D%B4%EB%8D%94%EB%A6%AC%EC%9B%80-%EB%B0%8F-%EB%8F%84%EC%A7%80%EC%BD%94%EC%9D%B8%EC%9D%B4-%EC%83%88%ED%95%B4-%EC%B2%AB-%EB%82%A0-%EA%B1%B0%EB%9E%98%EB%A5%BC/" target="_blank" rel="noopener">비트코인, 이더리움, 도지코인 새해를 건강하게 시작하다: 애널리스트는 이 블루칩 암호화폐가 2025년 초에 &#8216;상당한 거래량&#8217;을 기록할 수 있다고 말하다</a></li>
</ul>
면책 조항: 이 콘텐츠는 부분적으로 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> 의 도움을 받아 작성되었으며, Benzinga 편집자에 의해 검토 및 게시되었습니다.
이미지 출처: Shutterstock
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애널리스트들은 금이 2024년에 10년 만에 최고의 연간 상승률을 기록할 것으로 전망하며, 2025년에도 실적이 좋을 것으로 예상하고 있다. 그러나 마이크로스트레티지 공동 창립자이자 회장인 마이클 세일러는 미국 경제 전략의 <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">극적인 변화를 촉구</a>하며 예비 자산으로서 금을 포기하고 비트코인(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)을 선호해야 한다고 주장했다.
무슨 일이 있었나: 세계금협회는 2025년 전망에서 내년에 귀금속에 대한 세 가지 시나리오를 설명했다. 이들에 따르면 기존 시장 예상이 맞다면 금은 "박스권에서 움직일 것"이라고 한다.
세계금협회는 "금리 상승과 경제 성장률 하락의 조합이 투자자와 소비자에게 부정적인 영향을 미칠 수 있다"고 박스권 전망의 근거를 설명했다. 반대로 "금리가 크게 낮아지거나 지정학 또는 시장 상황이 악화되면 금의 성과가 개선될 것"이라고 했다.
JP모건은 금값이 "특히 신흥국 중앙은행의 지속적인 지지를 받을 것으로 예상한다"고 했다. &#8220;중요한 것은 원래 안전자산인 금이 지정학적 위험과 국가 부채 및 재정 적자에 대한 불확실성에 대한 매력적인 헤지 수단으로 작용할 수 있다는 점이다.&#8221;
반면, 골드만삭스는 "연준의 금리 인하와 신흥 시장 중앙 은행의 금 매입에 힘 입어 내년 초까지 금 가격이 2,700 달러에 도달 할 것"이라고 예측했다. 또한 &#8220;미국이 새로운 금융 제재를 부과하거나 미국의 부채 부담에 대한 우려가 커지면 금값이 추가로 상승할 수 있다&#8221;고 전망했다.
<h3>비트코인 강세론자들은 동의하지 않는다</h3>
2025년 금에 대한 대체로 긍정적인 전망에도 불구하고 비트코인 강세론자 중 일부는 다른 생각을 하고 있다. 갤럭시 브레인 팟캐스트의 한 에피소드에서 마이클 세일러는 금을 "반짝이는 죽은 돌"이라고 표현했다.
"세계에서 미국의 경제 리더십을 높이고 싶다면 아주 간단한 두 가지 전략이 있다. 금을 버리고 비트코인을 구입하는 것이다."
그는 금을 비트코인으로 대체해 전략적 준비 자산으로 활용하면 미국이 경쟁국들이 많이 보유하고 있는 금을 수익화하고 비트코인의 성장 잠재력을 활용할 수 있을 것이라고 제시했다.
금 가격 움직임: <a href=""https://pro.benzinga.com/dashboard"">벤징가 프로 데이터에</a> 따르면 금 현물 가격은 올해 들어 28.63% 상승했다. 이는 금이 31% 이상 급등했던 2007년 이후 최고의 성과다. 올해 다른 금 ETF의 수익률은 다음과 같다.
<figure class="wp-block-table">
<table style="overflow:auto; height: 90px; display: block;">
<tbody>
<tr>
<td>ETF</td>
<td>연초 대비 실적</td>
</tr>
<tr>
<td>Franklin Responsibly Sourced Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FGDL#NYSE">FGDL</a>)</td>
<td>29.07%</td>
</tr>
<tr>
<td>iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>)</td>
<td>28.52%</td>
</tr>
<tr>
<td>SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>)</td>
<td>28.55%</td>
</tr>
<tr>
<td>Aberdeen Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>)</td>
<td>28.46%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" class="wp-image-693140" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-1024x576.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020045/Gold-ETf-final.png 1920w" alt="" width="1024" height="576" /></a></figure>
비교적하자면, 비트코인 ETF는 같은 기간 동안 네 배 이상 급등했다.
<figure class="wp-block-table">
<table style="overflow:auto; height: 90px; display: block;">
<tbody>
<tr>
<td>ETF</td>
<td>연초 대비 실적</td>
</tr>
<tr>
<td>Franklin Responsibly Sourced Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#NYSE">FBTC</a>)</td>
<td>138.83%</td>
</tr>
<tr>
<td>Grayscale Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITC#NYSE">BITC</a>)</td>
<td>123.13%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" class="wp-image-693139" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-1024x576.png" sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16020016/Bitcoin-ETfs-final.png 1920w" alt="" width="1024" height="576" /></a></figure>
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abrdn Physical Gold Shares ETF

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에 대한 최신 뉴스 abrdn Physical Gold Shares ETF (ARCA:SGOL)

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