Along with more liquidity, “there’s less confidence in equity markets as we go into the end of the year, and there’s still no resolution in Europe as far as their financial crisis,” ETFtrends.com Editor Tom Lydon told MarketWatch.
“Gold historically has been a protector of assets, so it’s a way for advisors and investors to hedge portfolios,” he said. “You continue to see more of an appetite” for exposure to gold, Lydon said.
Other ETFs tracking gold include iShares Gold Trust (NYSEArca: IAU) and ETFS Swiss Gold Shares (NYSEArca: SGOL).
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.