Some investors fear another rate hike could boost the dollar, which could in turn weigh on gold and other commodities because commodities are denominated in dollars.

The good news for gold ETFs is that inflation could serve as a catalyst for the yellow metal. Rising inflation could also prove to be a catalyst for gold ETFs. By some metrics, the Fed has under-estimated U.S. inflation, which could prove beneficial to gold because the yellow metal is historically a popular inflation fighter.

For more information on the gold market, visit our gold category.

Tom Lydon’s clients own shares of GLD.