I do the “ETF of the Week” for MarketWatch every Thursday on Chuck Jaffe’s MoneyLife Show where I highlight big movers and disappointments within the exchange traded fund market.
On Thursday, I highlighted the SPDR Gold Shares Trust (NYSEArca: GLD).
The gold ETF is down about 16% year to date although the precious metal’s price climbed back above $1,400 an ounce on Thursday.
Gold ETFs still have value as a portfolio diversifier despite this year’s price correction.
The precious metal is a low-correlating asset that will help diversify a traditional portfolio comprised of stocks and bonds.
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Full disclosure: Tom Lydon’s clients own GLD.