ETF Trends
ETF Trends

The $56.6 billion SPDR Gold Shares (NYSEArca: GLD) recorded a fresh record high of nearly $143 a share Thursday although the exchange traded fund (ETF) was flat for the session.

Gold prices were buoyed by Portugal and sovereign-debt fears but an interest-rate hike by the European Central Bank may have tempered the gains, analysts said.

The gold ETF saw net outflows of $3 billion in the first quarter even though prices have jumped recently. It remains the second-largest U.S.-listed ETF by assets.

ETFs tracking “poor man’s gold” such as iShares Silver Trust (NYSEArca: SLV) have been outperforming gold lately as the metal trades close to $40 an ounce.

SPDR Gold Shares

For full disclosure, Tom Lydon’s clients own GLD and SLV.

The opinions and forecasts expressed herein are solely those of John Spence, 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.