Looking ahead, Goldman Sachs Group projects gold prices could decline at least 15% to $1,050 at the end of next year due to increased downside risk, reports Phoebe Sedgman for Bloomberg. Goldman Sachs analyst Jeffrey Currie calls gold a “slam dnk” sell for next year as the U.S. recovery extends next year. [Global Gold Demand Plunges As Investors Dump ETFs]
Physically backed gold ETFs include:
- SPDR Gold Shares (NYSEArca: GLD): down 25.9% year-to-date
- iShares Gold Trust (NYSEArca: IAU): down 25.9% year-to-date
- ETFS Physical Swiss Gold Shares (NYSEArca: SGOL): down 25.9% year-to-date
- ETFS Physical Asian Gold Shares (NYSEArca: AGOL): down 24.5% year-to-date
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.