GraniteShares Pares Fee on Gold ETF

Gold ETFs are struggling this year as the dollar remains strong and as the Federal Reserve has hiked interest rates three times.

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Global central banks have also been a large contributor to gold demand, and for the eighth consecutive year, central banks provided a substantial source of demand in the gold market in 2017, with net official sector activity rising by 36% to 366 tonnes, Alexander said. Additionally, Russia’s central bank has been a large buyer this year, adding nearly 29 tons in July, the largest monthly increase since November.

Gold ETFs allow buyers to invest in physical gold without having to buy and store the metal,” reports Reuters. “GraniteShares’ gold fund, launched in August 2017, has $283 million under management – far from the SPDR Gold Trust’s $28 billion, according to Refintiv data.”

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