Additionally, Deutsche Bank analysts expect higher demand for gold as an investment out of China will help bring prices above $2,000 an ounce by the end of the year.
However, concern over the end of the Federal Reserve’s stimulus policies has put a lid on gold gains – gold is seen as a safe hedge against the loose monetary policy and a depreciating dollar. The Fed’s last policymaking meeting revealed a growing debate over cutting short its $85 billion a month purchasing plan. [Gold ETFs Weigh Fed Comments, Fiscal Cliff Deal]
Some other physically backed gold ETFs include:
- iShares COMEX Gold Trust (NYSEArca: IAU)
- ETFS Physical Swiss Gold Shares (NYSEArca: SGOL)
- ETFS Physical Asian Gold Shares (NYSEArca: AGOL)
SPDR Gold Shares
For more information on gold, visit our gold category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.