Physically-backed gold ETFs listed around the globe control more than 2,400 metric tons of bullion, according to Bloomberg data.
Gold ETF demand has been steady lately as the precious metal’s price trades within a narrow range. [Gold ETF Demand]
Chinese fund companies said gold ETFs would appeal to investors looking for alternative investments due to weakness in the stock market and real estate in China, Reuters reported. [China ETF Performance is ‘Red Flag’ for Global Economy]
The largest U.S.-listed gold ETFs include SPDR Gold Shares (NYSEArca: GLD), iShares Gold Trust (NYSEArca: IAU) and ETFS Physical Swiss Gold Shares (NYSEArca: SGOL).
Full disclosure: Tom Lydon’s clients own GLD.