Gold exchange traded products, such as the ETFS Physical Swiss Gold Shares (NYSEArca: SGOL), have been scorching hot on two fronts this year. First, and most importantly, gold ETFs are delivering stout returns to investors. Second, investors are responding by pumping cash into gold ETFs, making the funds among this year’s top asset-gathering ETFs.

Gold bullion prices have surged this year as the Fed previously signaled it would slow the pace of interest rate normalization this year – higher interest rates typically weigh on gold prices since the hard asset provide no yield and would become less attractive to higher-yielding conservative debt assets in a rising rate environment.

Although investors are embracing gold ETFs, some argue that many remain under-allocated to the yellow metal and that the second half of this year could bring another wave of capital into ETFs like SOGL.

Related: Bullish Forecast for Gold ETFs

Some analysts still believe that is possible gold ascends to $1,500 per troy ounce. Gold bullion prices have surged almost 20% this year as the Fed previously signaled it would slow the pace of interest rate normalization this year – higher interest rates typically weigh on gold prices since the hard asset provide no yield and would become less attractive to higher-yielding conservative debt assets in a rising rate environment.

“While the second half of the year might not see the same unprecedented demand that defined the first six months, Maxwell Gold, director of investment strategy for ETF Securities, said that gold should have enough momentum to push to $1,400 or $1,450 an ounce,” reports Kitco News. “He warned investors that the market will be sensitive to profit taking due to the strong gains since the start of the year. However, he added that any healthy corrections will create new buying opportunities for investors who have been sitting on the sidelines.”

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