Gold ETFs let individuals and fund managers trade and invest in gold without the costs of transporting, storing and insuring the precious metal.
Famed investor George Soros boosted his stake in GLD by 49% to 1.32 million shares in the third quarter, valued at $221.4 million, Bloomberg reports.
“We see gold as a hedge against the follies of politicians,” said Michael Mullaney at Fiduciary Trust, in the story. “It’s a good time to garner some protection in portfolios by having some real asset like gold.”
GLD, the gold ETF, has a five-year annualized return of 15.9%, according to investment researcher Morningstar.
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.