“There is a cautious approach among consumers given the prevailing economic conditions. We see the demand softening in the next two-three quarters. We expect it to pickup during the festive season later this year,” he said.
Overall, on value terms, gold demand is up 16% year-on-year.
Physically-backed gold ETFs listed in the U.S. include:
- SPDR Gold Shares ETF (NYSEArca: GLD)
- ETFS Physical Swiss Gold Shares ETF (NYSEArca: SGOL)
- iShares Gold Trust (NYSEArca: IAU)
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.
