Stefan Karlsson for CSMonitor points out that the move by the central banks is a bullish indicator for two reasons. First, demand is higher, and central banks are big movers in the gold markets. Secondly, central bankers may be thinking about implementing policies that would promote inflation, and the banks are trying to hedge against it beforehand. [Gold ETFs Continue to Run.]
Rising demand from central banks is seen as “long-term support for gold prices,” comments David Greely, chief commodities strategist at Goldman Sachs Group, according to The Wall Street Journal.
The largest gold ETFs include:
- SPDR Gold Shares (NYSEArca: GLD)
- iShares Gold Trust (NYSEArca: IAU)
- ETFS Physical Swiss Gold Shares (NYSEArca: SGOL)
For more information on gold, visit our gold category.
SPDR Gold Shares
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.