Gold futures are currently trading at around $1,714 per ounce. Gold hit an all time high of $1,921.15 an ounce on Sept. 6, 2011.
“Gold out of all the metals will be the best performer,” Jeremy East, global head of metals trading and structured inventory product at Standard Chartered Plc, said in the article. “The biggest driver of gold will be the ETF.”
Barclays Plc estimates that gold ETFs will add 200 metric tons, or 4.6% of the total physical supply of 4,323 tons, of gold this year, compared to 175 tons in 2011. [Gold ETF Metal Holdings Rise on Investment Demand]
Some gold ETFs include:
- SPDR Gold Shares ETF (NYSEArca: GLD)
- iShares COMEX Gold Trust ETF (NYSEArca: IAU)
- ETFS Physical Swiss Gold Shares ETF (NYSEArca: SGOL)
- Powershares DB Gold Fund ETF (NYSEArca: DGL)
- ETFS Physical Asian Gold Shares ETF (NYSEArca: AGOL)
For more information on gold, visit our gold category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.