On the flip side, the value of the U.S. dollar is expected to rise once quantitative easing is over. This could spark further flights from gold, as has been evidenced since October 2012. According to the U.S. mint, the sale of gold coins has declined 25% since 2011, reinforcing the October 2012 downtrend. [Gold Coin Sales Keep Falling as Investors Buy Bullion ETFs]
Long term, gold still has the capacity to finish off 2013 in a bull market, but for the near term, gold does not have the same shine as it did at the same time last year.
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
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.