“In North America, low-cost US-based ETFs were a bright spot, raising $775mn in assets and signalling increased demand for holding gold as a long-term strategic asset,” Cavatoni added
Gold prices rallied off the August lows and stood out as a safe haven play over the fourth quarter as the broad equity markets plunged, with the S&P 500 down 14% over the period.
Furthermore, the strong U.S. dollar also weighed on prices, but the long-dollar hedged gold strategy finished the year higher, buoyed by the USD. The SPDR Long Dollar Gold Trust (NYSEArca: GLDW) gained 3.7% over the past year, whereas GLD declined 3.0% over the period.
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