“This festive season, we expect good demand for coins, one-kg bars and ETFs, unlike past instances, when jewellery demand shot up during weak gold prices,” said Suresh Hundia, former president of Bombay Bullion Association (BBA).
Some analysts think four more years of Obama is bullish for gold because Bernanke is more likely to be appointed to another term at the Fed.
“Bernanke will continue to have full reign with the potential of another term in which he can execute his QE to perpetuity,” said Jeff Sica, president of SICA Wealth Management, in an IBD report. “This will continue to weaken the dollar and increase the price of gold. The Obama Administration is firm in their opinion that the economy is improving, so I see little chance of them changing course in the next four years.”
Other physically-backed gold ETFs:
- iShares Gold Trust (NYSEArca: IAU)
- ETFS Physical Asian Gold Shares (NYSEArca: AGOL)
- ETFS Physical Swiss Gold Shares (NYSEArca: SGOL)
SPDR Gold Shares
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.