Related: Analysis – Silver ETFs Are Outshining Gold
“Furthermore, Krinsky is also keeping an eye on gold stocks such as the gold miners, which have seen an impressive run this year,” adds CNBC.
Fortunately, the Federal Reserve is supporting gold whether it intends to or not. an interest rate hike also weighs on gold prices since the precious metal pays its investors nothing and struggles to compete with yield-bearing assets when rates rise. However, there appears to be little momentum for a Fed rate hike anytime soon.
For more information on the Gold ETFs, visit our Gold category.
SPDR Gold Shares
Tom Lydon’s clients own shares of GLD.