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.
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