According to a Bloomberg survey, 15 of 19 analysts expect higher prices in the first week of the new year, which makes this the largest ratio of bulls since Aug. 24.
With increased interest in gold assets, exchange traded product physical holdings of gold have increased 274.9 metric tons over 2012, reaching a record 2,632.5 tons on Dec. 20, or the equivalent of a year’s worth of mining production.
Some other physically backed gold ETFs include:
- iShares COMEX Gold Trust (NYSEArca: IAU): up 5.9% year-to-date
- ETFS Physical Swiss Gold Shares (NYSEArca: SGOL): up 5.6% year-to-date
- ETFS Physical Asian Gold Shares (NYSEArca: AGOL): up 5.9% year-to-date
For more information on gold, visit our gold category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.