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.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.