Moreover, in India, the rupee currency is strengthening against the U.S. dollar. As the world’s largest consumer of gold, India demand is a major factor to gold prices, and the stronger rupee will allow the country to purchase more of U.S. dollar denominated gold.
Gold ETFs include:
- SPDR Gold Shares (NYSEArca: GLD)
- iShares Gold Trust (NYSEArca: IAU)
- ETFS Swiss Gold Shares (NYSEArca: SGOL)
- PowerShares DB Gold Fund (NYSEArca: DGL)
SPDR Gold Shares
For more information on gold, visit our gold category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.