abrdn Physical Gold Shares ETF (ARCA: SGOL)

Dernières nouvelles pour abrdn Physical Gold Shares ETF (ARCA:SGOL)

The Shares are intended to constitute a simple and cost-effective means of making an investment similar to an investment in gold. An investment in physical gold requires expensive and sometimes complicated arrangements in connection with the assay, transportation, warehousing and insurance of the metal. Although the Shares are not the exact equivalent of an investment in gold, they provide investors with an alternative that allows a level of participation in the gold market through the securities market.

Aberdeen Standard Physical Gold Shares ETF

abrdn Physical Gold Shares ETF

Goldman Sachs has projected a substantial increase in gold prices for the coming year, driven by heightened central bank acquisitions and expected reductions in U.S. interest rates.
What Happened: Goldman Sachs has identified gold as a leading commodity trade for 2025, with prices anticipated to reach $3,000 per ounce by December 2025. Analysts, including Daan Struyven, pointed to increasing demand from central banks as a key driver of this forecast, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-11-18/goldman-says-go-for-gold-as-central-banks-buy-fed-cuts-in-25">reported</a> on Monday.
"Go for gold," analysts said in a note.
They also foresee a cyclical boost from rising investments in exchange-traded funds (ETFs) as the Federal Reserve enacts rate cuts. Additionally, geopolitical risks, particularly concerning Iran, could influence oil supply due to potential increased U.S. support for Israel and stricter sanctions enforcement.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Soars Over 5% In Overnight Trading As Trump Administration Reportedly Seeks To Ease FSD Norms</a>
Gold ETFs have demonstrated robust performance in terms of year-to-date (YTD) returns, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) has risen 24.05%, iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) increased by 24.22%, SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>) climbed by 24.38%, abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) gained 24.29%, and iShares Gold Trust Micro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>) advanced 24.08% year-to-date.
Why It Matters: The forecast by Goldman Sachs comes amid significant movements in the gold market. In October, the SPDR Gold Trust (GLD), the largest physically backed gold ETF, experienced its highest monthly<a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41663633/biggest-gold-etf-posts-highest-monthly-inflows-in-2-5-years-as-investors-rush-to-"> inflows in 2.5 years earlier this month,</a> driven by economic and policy uncertainties surrounding the U.S. presidential election. This influx pushed the fund&#8217;s assets under management to $79.7 billion by the end of October, with $1.8 billion in net inflows for the month.
However, the sentiment shifted dramatically after Donald Trump&#8216;s election victory, leading to a<a href="https://www.benzinga.com/etfs/specialty-etfs/24/11/41888750/gold-etf-hit-with-1-billion-outflow-investors-dump-safe-haven-asset-after-trump-win"> $1 billion outflow </a>from the SPDR Gold Trust (GLD) in early November. This marked the largest weekly outflow in over two years, as investors moved away from the safe-haven asset, anticipating a strong dollar under Trump&#8217;s second term.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
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'Go For Gold,' Says Goldman Sachs: Precious Yellow Metal Price Would Rise In 2025 Amid Central Bank Buying, Fed Rate Cuts

The Federal Reserve started the new rate cycle era last week, infusing strong optimism in various areas of the global markets and commodities. Wall Street has been hovering around a 52-week high. While the gains were broad-based, some areas were the biggest gainers and hit a 52-week high each on Sept. 20, 2024. We have highlighted three ETF areas that came to the forefront due to the Fed-induced rally.
<h2>Inside the Latest Fed Rate Cut</h2>
On Wednesday, the Fed announced a 50-basis-point cut in interest rates, marking its first reduction since March 2020. The new benchmark policy rate now stands between 4.75% and 5.00%. The rate cut was widely anticipated, though there was uncertainty over its size. A 25-basis-point reduction was expected by many, but softer-than-expected economic data led to calls for a larger cut. Ultimately, the Fed opted for the half-percentage-point reduction.
<h2>Further Rate Cuts Expected by Year-End</h2>
The Federal Open Market Committee&#39;s (FOMC) &quot;dot plot&quot; of individual officials&#39; projections indicates the possibility of another 50 basis points of cuts by the end of the year, aligning with market expectations. The committee also forecasts an additional percentage point of cuts by 2025 and another half-point cut by 2026, eventually reducing the benchmark rate by 2 percentage points.
Against this backdrop, below we highlight a few winning exchange-traded funds areas.
<h2>Winning ETF Sectors</h2>
<h2>Utilities ETF</h2>
The Utility sector tends to be stable and provides consistent dividends. This sector also performs better in a low-rate environment. Virtus Reaves Utilities ETF (ARCA:UTES), S&amp;P 500 Utilities Sector SPDR (ARCA:XLU) and Fidelity Utilities MSCI ETF (ARCA:FUTY) are the utilities ETFs that hit a 52-week high on Sept. 20, 2024.
<h2>India ETF</h2>
India ETFs are also hitting highs. Franklin India ETF (ARCA:FLIN), India Internet &amp; Ecommerce ETF (ARCA:INQQ), First Trust India Nifty 50 Equal Weight ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nfty#NASDAQ">NFTY</a>) and Columbia India Consumer ETF (ARCA:INCO), probably saw a spike on the likelihood of a falling U.S. dollar.
India&#39;s potential for growth makes it an attractive choice for investors. Recent upgrades in growth forecasts for the country, driven by robust public investment and strong private consumption, have boosted the prospects for these ETFs.
Consumers in India are expected to increase their spending on both essential and non-essential items per the country&#39;s central bank, a trend likely to continue over the next year. The forecasted rise in consumer consumption in the upcoming festive season is a tailwind.
<h2>Gold ETF</h2>
Gold bullion ETFs like iShares Gold Trust Micro (ARCA:IAUM), GraniteShares Gold Trust Shares (ARCA:BAR), Vaneck Merk Gold ETF (ARCA:OUNZ) and Physical Gold ETF (ARCA:SGOL) have hit a 52-week high lately. As the Fed eased its policy, the greenback lost strength and bond yields fell. Both factors should go in favor of gold investing.
<a href="https://www.zacks.com/stock/news/2340099/3-etf-sectors-hitting-52-week-highs-after-fed-rate-cut?cid=CS-BENZ-FT-etf_news_and_commentary-2340099">To read this article on Zacks.com click here.</a>

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3 ETF Sectors Hitting 52-Week Highs After Fed Rate Cut

Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) reinforced its bullish outlook on gold, citing increased central bank demand and expectations of a U.S. Federal Reserve <a target="_blank" href="https://www.benzinga.com/federal-reserve" rel="noreferrer noopener">interest rate cut</a> tomorrow.
"While we see some tactical downside to gold prices under our economists' base case of a 25bp Fed cut on Wednesday, we reiterate our long gold trading recommendation and our price target of $2,700/oz by early 2025," the investment bank said in a note.
With the price of gold making new all-time highs, reaching 2589.60 on the spot market, the two-quarter upside price target of 5% doesn't seem much. At the moment, the market is pricing a 65% chance of a 50-basis-point cut tomorrow, <a target="_blank" href="https://www.google.com/search?client=firefox-b-d&amp;q=cme+fed+watchtool" rel="noreferrer noopener">per</a> the CME FedWatch tool.
Now read:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40861213/why-interest-rate-cuts-wont-automatically-boost-the-stock-market" rel="noreferrer noopener"> Why Interest Rate Cuts Won't Automatically Boost The Stock Market</a>
Gold is traditionally seen as a hedge against inflation and economic uncertainty. With the U.S. recession still in discussion and a Fed pivot toward more accommodative monetary policies, investor interest in gold is <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40689742/goldman-sachs-bullish-on-gold-wall-street-giant-targets-2-700-by-early-2025-driven-" rel="noreferrer noopener">expected to remain strong</a>, accompanied by buying from foreign central banks, <a target="_blank" href="https://www.benzinga.com/markets/asia/24/05/38649656/how-chinas-central-bank-gold-buying-frenzy-drove-prices-to-record-highs-attracting-gen-z-to-gold-bea" rel="noreferrer noopener">particularly China</a>.
The Fed's anticipated rate cuts could <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40861213/why-interest-rate-cuts-wont-automatically-boost-the-stock-market" rel="noreferrer noopener">lower bond yields</a>, making gold more attractive as it does not generate interest.
In contrast to its positive gold outlook, the bank recently downgraded its projection for iron ore prices. The bank slashed its fourth-quarter 2024 forecast by $15 per metric ton, lowering it to $85 due to concerns of oversupply despite stabilizing demand from China.
Despite China's attempts at economic stimulus and rising steel demand, the broader economic slowdown and the real estate crisis have dampened demand for iron ore. Its futures briefly dipped below $90, reaching the lowest point in almost two years.
Goldman noted that while there might be short-term support due to restocking ahead of the holiday week in October, but the continued buildup of iron ore inventories is likely to drive prices further down.
Supply-demand imbalances have been a key issue for the market, particularly with major players like Brazil's Vale and Australia's BHP maintaining production levels.
Kallanish Consulting analyst Ian Roper explained the current price dynamics <a target="_blank" href="https://www.bnnbloomberg.ca/business/international/2024/09/11/iron-ore-tests-floor-as-plunge-to-90-a-ton-puts-mines-at-risk/" rel="noreferrer noopener">for</a> Bloomberg.
"We need to eliminate about 100 million tons to balance this market, and to do that, we need prices to settle in the $80s," he noted.
Also read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40875211/bhp-group-sounds-alarm-on-copper-supply-ai-and-ev-growth-could-drive-prices-soaring-report" target="_blank" rel="noreferrer noopener">BHP Group Sounds Alarm on Copper Supply, AI and EV Growth Could Drive Prices Soaring: Report</a></li>
</ul>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com" target="_blank" rel="noreferrer noopener">licensing@benzinga.com</a> to get started!
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Goldman Sachs Sees Gold Higher, Takes A Downbeat Stance On Iron Ore

As the price of gold continues to soar, prominent economists Mohamed A. El-Erian and Peter Schiff are emphasizing the ongoing strength of the gold market. El-Erian highlights the significant expansion of the commodity rally, while Schiff underscores the importance of holding onto gold and silver assets amid a promising market outlook.
What Happened: El-Erian, the chief economic advisor at Allianz, took to X to share his thoughts on the recent surge in gold prices. He pointed out that the price of gold has hit over 20 new highs this year, with the latest highs being accompanied by a significant expansion of the commodity rally. El-Erian also noted that the drivers behind these highs now include a wider range of demand and supply factors.
&#8220;This month's new highs in the price of #gold is not unusual,&#8221; El-Erian wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This month's new highs in the price of <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> is not unusual. We have had over twenty new highs so far this year. What I find more notable: (i) Recent highs have been accompanied by a significant broadening of the commodity rally; and (ii) Drivers now encompass a wider set of… <a href="https://t.co/TnynVeWSnQ">pic.twitter.com/TnynVeWSnQ</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1792983521247764516?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
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Meanwhile, Schiff, a <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38911373/peter-schiff-says-bitcoin-is-dead-long-live-silver-but-is-it-really-true">well-known gold advocate</a> and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) critic, also took to X to advise investors to hold on to their gold and silver assets. He warned that selling during a bull market is easy, but buying back in is the hard part. Schiff believes that the current gold rally is just getting started and that good things come to those who wait.
&#8220;Don&#8217;t sell any of your #gold or #silver. It&#8217;s easy to sell out of a bull market. The hard part is buying back in. Just sit tight and enjoy the ride. It&#8217;s likely just getting started. Good things come to those who wait. We&#8217;ve waited a long time, so what&#8217;s coming should be great,&#8221; Schiff wrote. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Don&#39;t sell any of your <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> or <a href="https://twitter.com/hashtag/silver?src=hash&amp;ref_src=twsrc%5Etfw">#silver</a>. It&#39;s easy to sell out of a bull market. The hard part is buying back in. Just sit tight and enjoy the ride. It&#39;s likely just getting started. Good things come to those who wait. We&#39;ve waited a long time, so what&#39;s coming should be great.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1792997390334513439?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
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Investors interested in gold ETFs might check&nbsp;SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), Abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>), VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), which invests in global gold miner equities.
<a href="https://x.com/PeterSchiff/status/1792997390334513439"></a>See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38910906/bitcoin-dogecoin-ethereum-retrace-on-profit-taking-by-retail-investors-analyst-predicts-pa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Dogecoin, Ethereum Retrace On Profit-Taking By Retail Investors: Analyst Predicts Parabolic Rise For King Crypto Following Consolidation Phase</a>
Why It Matters: The price of gold has been on a steady rise, recently hitting a new record high of $2,450 per ounce. This surge is attributed to the expectation that the U.S. Federal Reserve <a href="https://www.benzinga.com/trading-ideas/24/05/38941163/gold-shatters-expectations-with-a-record-high-of-2-450-per-ounce-amid-expectations-of-lower-interes">might lower interest rates</a> by September, making gold a more attractive investment option.
This trend has also been reflected in the actions of prominent investors. For instance, Michael Burry, the legendary investor who predicted the 2008 financial crisis, <a href="https://www.benzinga.com/markets/asia/24/05/38878116/big-short-investor-michael-burry-bets-heavy-on-gold-renewable-energy-stocks-exits-amazon-alphabet">recently made significant bets on gold</a> and renewable energy stocks, indicating a shift in investment strategies towards physical commodities and renewable energy.
However, not everyone is optimistic about the economic situation. Schiff, who is also the CEO of Euro Pacific Capital, recently criticized President Joe Biden&#8216;s new tariffs, <a href="https://www.benzinga.com/news/24/05/38862552/mohamed-el-erian-says-bond-and-equity-prices-getting-a-boost-after-softer-than-expected-headline-cpi">labeling them as taxes</a> that will only add to the economic misery.
Price Action: On Tuesday, Gold spot prices closed at $2,422 per ounce, up 0.07%, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38909046/top-trader-ditches-bitcoin-for-altcoins-dogecoin-killer-shiba-inus-potential-breakout-and-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Top Trader Ditches Bitcoin For Altcoins, &#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Potential Breakout And More</a>
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Mohamed El-Erian And Bitcoin-Critic Peter Schiff Highlight Gold's Soaring Prices And Market Momentum: 'Just Sit Tight And Enjoy The Ride'

U.S. government debt is reaching unsustainable levels, and the latest analysis points to an even<a href="https://www.benzinga.com/news/treasuries/24/02/37227285/government-debt-exceeds-120-of-gdp-why-former-imf-economist-very-worried-about-us-fiscal-crisis"> more concerning future.</a>
A new economic model developed by Bloomberg Economics predicts that in 88% of scenarios, U.S. debt as a percentage of GDP will rise in the coming 10 years.
In a Monday letter to investors, Citadel founder Ken Griffin <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38039631/ken-griffin-slams-irresponsible-us-deficit-we-must-stop-borrowing-at-the-expense-">referred to mounting national debt as a significant issue</a>, saying that &#8220;we must stop borrowing at the expense of future generations.&#8221;
According to a recent survey, about 85% of Americans worry that current debt levels <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37324835/ticking-time-bomb-over-85-of-americans-fear-national-debt-crisis-impact-on-their-fu">could have a negative impact in their future</a>.
Official data from the St. Louis Fed shows that debt equaled 121% of the country&#8217;s GDP in the last quarter of 2023. The rate has floated around 120% in past years, after peaking at 132% during the COVID pandemic. These levels are above a previous historical record set following World War II.
In late May 2023, <a href="https://www.benzinga.com/news/23/06/32704441/biden-signs-debt-ceiling-bill-to-avert-government-default">the government averted a default by raising the debt limit even higher</a> in an emergency measure. While lawmakers on both sides of the aisle agree that government borrowing has reached unhealthy levels, a lack of agreement as to how to solve the problem keeps Congress from finding a satisfactory solution.
Earlier this year Fed Chair Jerome Powell said that the current rate of debt acquisition <a href="https://www.benzinga.com/startups/24/02/37156426/jerome-powell-says-34-trillion-national-debt-is-ready-for-an-adult-conversation-janet-yellen-calls-s">means we're ​​&#8221;borrowing from future generations,"</a> and called for elected officials to have an adult conversation "about getting the federal government back on a sustainable fiscal path.&#8221;
With <a href="https://www.benzinga.com/general/24/03/37851477/u-s-national-debt-has-increased-by-nearly-8-5-billion-per-day-over-the-past-year">national debt increasing by an average of $8.5 billion a day during the past year</a>, Republicans generally argue for spending cuts, while Democrats point towards problems in tax revenue and high interest rates as the causes behind the rising fiscal deficit.
A recent budget proposal by President Joe Biden is aimed at reducing the federal deficit by $3 trillion in the next decade <a href="https://www.benzinga.com/24/03/37603424/bidens-budget-aims-to-slash-us-deficit-by-3-trillion-next-decade-through-higher-taxes-on-wealthy-big">by raising taxes on wealthy individuals and corporations</a>.
Where To Find Safe Haven: Bank of America chief strategist Michael Hartnett recently linked a rise in <a href="https://www.benzinga.com/money/how-to-invest-in-gold">gold</a> and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) with rising concerns over debt, as investors look for hedges against a possible debt-led crises affecting the U.S. economy.
As opposed to the U.S. dollar, which can be emitted to infinity by printing new cash, both Bitcoin and gold have a cap on their supply, making them safer assets to store value in times of economic volatility.
Also read: <a href="https://www.benzinga.com//node/37227285">Government Debt Exceeds 120% Of GDP: Why Former IMF Economist &#8216;Very Worried&#8217; About US Fiscal Crisis</a>
SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), the largest ETF following the gold market by total assets, has gained over 23% in the last six months. Other gold ETFs, including iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>) and Abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) follow a similar trajectory.
<a href="https://www.benzinga.com//node/38053974">Bitcoin has hit a slump this week,</a> losing 5% of its value at the time of writing on Tuesday, yet the cryptocurrency has been enjoying a rally in recent months.
When concerns about national debt dominate the news, investors typically seek assets known for retaining value. With the debt ceiling suspension set to last until Jan. 1, 2025, Congress is likely to face another stand-off on debt issues following the <a href="https://www.benzinga.com/topic/2024-election">presidential election in November</a>, regardless of the winning candidate.
Real estate is another sector known to serve as a store of value, and investors can take part without the need to buy actual land. ETFs following the sector reflect its growth trends, with some of the largest being Vanguard Real Estate Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) and Schwab US REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHH#NYSE">SCHH</a>).
ETFs following companies in Europe, Asia, Australia and other developed territories, also known as foreign asset ETFs, can also serve as a safe haven from U.S. volatility. Some of the largest include Vanguard Tax Managed Fund FTSE Developed Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEA#NYSE">VEA</a>) as well as iShares Core MSCI EAFE ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEFA#BATS">IEFA</a>).
The new <a href="https://www.bloomberg.com/news/articles/2024-04-01/us-government-debt-risk-a-million-simulations-show-danger-ahead?srnd=homepage-europe&amp;sref=TBDibEcD">report</a> by Bloomberg Economics executed one million simulations tinkering with several variables in order to encompass the widest possible range of future scenarios. In 88% of the scenarios, the debt ratio went up between now and 2034, making the path of U.S. government debt unsustainable.
Bloomberg's team started its analysis by setting off from projections published by the Congressional Budget Office, which warned earlier this year that the fiscal deficit is spinning out of control, even when assuming that inflation will stabilize at 2% and the<a href="https://www.benzinga.com//node/38021818"> Fed will drop interest rates</a>.
The firm used a computational analysis which created a model using "market pricing for future interest rates and data on the maturity profile of bonds," and its results surpassed Congress' predictions, taking U.S. debt into new records over the coming decade.
Now read: <a href="https://www.benzinga.com//node/37839953">Elon Musk Calls For &#8216;Strong-Willed President&#8217; After GOP Rep Warns &#8216;Economic Catastrophe Must Happen&#8217; Before Congress Gets Serious About &#8216;Out-Of-Control Spending&#8217;</a>
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National Debt Drama Deepens: Where To Stash Your Cash When The Fiscal Sky Falls

Global physically backed gold ETFs recorded outflows for the ninth consecutive month despite gold trading at <a href="https://www.benzinga.com/news/large-cap/24/03/37547023/gold-shines-brighter-than-ai-driven-semiconductor-stocks-7-mining-stocks-to-watch-with-prices-at-r">fresh all-time highs</a>.
Outflows from these ETFs amounted to $5.7 billion year-to-date, mainly in North America, which accounted for $4.7 billion. The <a href="https://www.gold.org/goldhub/research/gold-etfs-holdings-and-flows/2024/02">data</a> included a $2.9 billion outflow in February, pointing at a potentially accelerating downtrend.
According <a href="https://www.gold.org/news-and-events/press-releases/geopolitical-and-economic-uncertainty-bolster-gold-demand-and-prices">to</a> The World Gold Council, factors contributing to this trend include a strong labor market, higher-than-expected inflation and investor expectations of a potential rate cut by the Federal Reserve. 
The rebound in the 10-year Treasury yield and a stronger dollar further weighed on gold prices and ETF holdings in the region. The strength of U.S. equities also diverted investor attention away from gold.
On a global scale, Asia experienced net inflows for the 12th consecutive month, while other regions faced limited losses. Geopolitical tensions, including conflicts in Ukraine, Israel and the Middle East, along with rising trade protectionism and resource nationalism, contributed to disruptions in global supply chains and drove additional interest in the precious metal.
Now Read: <a href="https://www.benzinga.com/news/large-cap/24/03/37547023/gold-shines-brighter-than-ai-driven-semiconductor-stocks-7-mining-stocks-to-watch-with-prices-at-r">Gold Shines Brighter Than AI-Driven Semiconductor Stocks: 7 Mining Stocks To Watch With The Ore At Record Highs</a>
Despite the sustained outflows from gold ETFs, the price surge of precious metal continues, driven by a jump in speculative betting and <a href="https://www.benzinga.com/markets/asia/24/03/37551998/chinas-gold-buying-spree-continues-16-month-streak-challenges-us-dollar-dominance">physical demand from China</a>. Analysts attribute the rise to weak U.S. economic data and anticipation of a Federal Reserve interest rate cut later in the year.
"Central-bank demand for the precious metal remains historically strong, and that&#8217;s clearly helping drive up the gold price as sovereign nations favor the precious metal as a safe haven against the worsening geopolitical outlook,&#8221; Adrian Ash, director of research at BullionVault said in an interview <a href="https://www.marketwatch.com/story/gold-looks-to-score-another-record-high-settlement-but-its-no-gold-rush-in-the-west-457611e1">for</a> MarketWatch.
While Ash clarified these new all-time highs could be vulnerable to central banks because gold pays no income, he added that "any dip could prove a good opportunity to buy into the underlying strength in gold."
Despite Bitcoin&#8217;s rising popularity, gold and Bitcoin ETFs have seen divergent trends. Gold ETFs faced outflows, while Bitcoin ETFs experienced inflows. Yet, <a href="https://www.marketwatch.com/story/gold-looks-to-score-another-record-high-settlement-but-its-no-gold-rush-in-the-west-457611e1">per</a> Martin Leinweber, a digital assets product strategist at MarketVector Indexes, gold and Bitcoin are not yet substitutes. The fact that the former's ETFs have seen inflows while the latter has seen outflows might just be a coincidence since he believed investors still see Bitcoin as a risky asset.
Investors interested in gold ETFs might Check SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), Abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>) or VanEck Gold Miners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), which invests in global gold miner equities.
Also Read: <a href="https://www.benzinga.com/news/24/03/37535370/ecuador-joins-the-copper-rush-invests-3-2b-in-solgold">Ecuador Joins The Copper Rush, Invests $3.2B In SolGold</a>
Photo: Pixabay

Specialty ETFs

Gold ETFs Diverge From Spot Prices: Record Ninth Consecutive Month Of Outflows

We performed a screening of mid-cap ETFs &#8211; defined as having Assets Under Management (AUM) between $2 billion and $10 billion &#8211; to determine what funds had the largest change in net assets on the week, according to data from <a href="http://etfdb.com">etfdb.com</a>. Only non-leveraged funds were considered.&nbsp;
<h2 class="wp-block-heading">Winners</h2>
abrdn Physical Gold Shares ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGOL#NYSE">SGOL</a>)
SGOL was up 2.71% on the week.
The abrdn Physical Gold Shares ETF provides exposure to the spot price of gold. The fund holds real gold bullion in its vault in Switzerland.
SGOL has $2.78 billion in AUM and an expense ratio of 0.17%.
YTD, SGOL is up 8.41%.
SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>)
GLDM is up 2.61% over the trailing week.
SPDR Gold MiniShares Trust, like SGOL, provides exposure to gold without the need to personally own bullion. The price will move synchronously with the spot price of gold.
GLDM has $6.19 billion in AUM and an expense ratio of 0.10%.&nbsp;
GLDM is up 8.48% YTD.
<h2 class="wp-block-heading">Losers</h2>
Global X Lithium &amp; Battery Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LIT#NYSE">LIT</a>)
LIT is down 7.50% over the trailing week.
The Global X Lithium &amp; Battery Tech ETF is designed to offer exposure to companies involved in the lithium industry, from exploration and mining to the development and manufacture of new technologies. Lithium and lithium-ion batteries are a critical component of much of the technology that drives the modern world.
The fund has $3.37 billion in AUM and an expense ratio of 0.75%. LIT has 42 holdings, with the 10 largest comprising 55.94% of the fund.
The fund's largest holdings are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) making up 7.91% and 7.58% of the fund, respectively.
LIT is down 16.18% YTD.
Vanguard Extended Duration Treasury ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDV#NYSE">EDV</a>)
EDV is down 7.48% over the trailing week.
The Vanguard Extended Duration Treasury ETF provides exposure to long-dated US treasuries. The maturity dates range from 20 to 30 years.
The fund has $2.19 billion in AUM and an expense ratio of .06%.
EDV is down 21.71% YTD.

TSLA

Gold Up For Another Week Approaching All-Time High, Gold Funds Pop - ETF Winners And Losers: Mid-Cap Returns

<ul>
<li>Gold rose 0.16% to $1,940.15 at 04.30 AM ET</li>
<li>Silver rose 0.21% to $23.328 at 04.30 AM ET</li>
</ul>

Econ #s

SIVR

Gold And Silver Prices Edge Higher Today, Ahead Of US Inflation Data

After soaring past $1,700 an ounce on Tuesday, gold prices steadied as traders considered whether the U.S.&nbsp;Federal Reserve&nbsp;may&nbsp;<a href="https://www.benzinga.com/news/22/10/29132071/nasdaq-s-p-futures-rally-amid-hopes-of-thawing-in-feds-hawkish-stance-rivian-apple-among-stocks-movi" target="_blank">tone down its hawkish stance</a>&nbsp;post the release of weak economic data.&nbsp;
U.S. manufacturing activity slowed down in September, growing at its slowest pace in nearly two-and-a-half years. The&nbsp;ISM&#39;s&nbsp;manufacturing PMI fell to 50.9, the lowest reading since May 2020.
Job openings, too, dropped by the most in nearly two-and-a-half years in August, which indicated the labor market was beginning to cool as the economy struggles with higher interest rates,&nbsp;<a href="https://www.reuters.com/markets/us/us-job-openings-post-biggest-drop-nearly-2-12-years-august-2022-10-04/" target="_blank">reported&nbsp;</a>Reuters.
Also Read:&nbsp;<a href="https://www.benzinga.com/money/gold-eft" target="_blank">The Best Gold ETFs</a>
What Happened:&nbsp;Bullion had surged nearly 4% in the last two sessions as higher bond yields and risk aversion pushed traders and investors towards the safe-haven yellow metal.
The rise in gold prices is reflected in ETFs&rsquo; performances as the&nbsp;SPDR Gold MiniShares Trust&nbsp;(NYSE:&nbsp;<a href="https://www.benzinga.com/stock/gldm#NYSE" target="_blank">GLDM</a>) and the&nbsp;abrdn Physical Gold Shares ETF&nbsp;(NYSE:&nbsp;<a href="https://www.benzinga.com/stock/sgol#NYSE" target="_blank">SGOL</a>) gained over 4% in the last five days. Spot Gold was last trading at $1,718/ounce in the Asia session.
More employment data set to be released this week may offer clues on the likely tightening trajectory, the report said.
Expert Take:&nbsp;Ed Moya, senior market analyst at&nbsp;OANDA, said in a note that gold&rsquo;s bottom is in place now that the U.S. is showing clear signs the labor market is softening,&nbsp;<a href="https://www.bloomberg.com/news/articles/2022-10-05/gold-steadies-after-crossing-1-700-as-traders-mull-fed-s-stance?srnd=markets-vp&amp;leadSource=uverify%20wall" target="_blank">reported&nbsp;</a>Bloomberg. As long as non-farm payrolls do not see an &ldquo;extraordinary strong print&rdquo;, gold should remain supported and may test the $1,750 an ounce, he said.
Read Next:&nbsp;<a href="https://www.benzinga.com/general/topics/22/10/29142274/odds-of-a-fed-pivot-well-its-likely-slim" target="_blank">Major Drop In US Job Openings, Will The Fed Now Pivot? Don&#39;t Bet On It</a>

Gold Flatlines After Hitting $1,700: How Weak US Economic Data Is Taking Shine Off Bullion

In 2019, no one should need any convincing that advisors and investors love cheap exchange traded funds. Usually, it&#39;s a case of &ldquo;the cheaper, the better.&rdquo;
<h3>What Happened</h3>
For the uninitiated, the latest example of cheap works is the SPDR Gold MiniShares Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gldm#NYSE">GLDM</a>). GLDM, came to market in June as a cost-effective alternative to the SPDR Gold Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gld#NYSE">GLD</a>), recently topped $1 billion in assets under management.
Thanks to that low fee and <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/08/14346206/golds-rally-has-miners-etfs-strutting-their-bull-market-stuff">soaring gold prices</a>, GLDM has attracted nearly $520 million in assets, or about half its AUM tally, just this year.
<h3>Why It&#39;s Important</h3>
&ldquo;Our low-cost gold ETF with a share price hovering around $15, GLDM has resonated with financial advisors, digital advice platforms and buy-and-hold retail investors,&rdquo; said Matthew Bartolini, Head of SPDR Americas Research at State Street Global Advisors, <a href="https://finance.yahoo.com/news/spdr-gold-minishares-surpasses-1-130000351.html">in a statement</a>.
With an annual fee of 0.18%, or $18 on a $10,000 investment, GLDM is significantly cheaper than GLD. GLD, the world&#39;s largest gold ETF, charges 0.40% per year.
Just two U.S.-listed gold ETFs &ndash; the Aberdeen Standard Physical Swiss Gold Shares ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sgol#NYSE">SGOL</a>) and the Graniteshares Gold Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bar#NYSE">BAR</a>) &ndash; have lower annual fees than GLDM. Those funds charge 0.17% per year.
<h3>What&#39;s Next</h3>
Considering it&#39;s still a fairly new entrant to the gold ETF fray, GLDM&#39;s average daily volume of 1.35 million shares is robust, helping keep bid-ask spreads tight and trading costs low for investors.
If there&#39;s one knock on GLDM, it&#39;s that the fund is not yet optionable. GLD is.
&ldquo;GLD remains the largest and most liquid gold ETF in the market with approximately $43.2 billion in total net assets and $5.23 billion of net new inflows year-to-date,&rdquo; according to State Street.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/09/14509860/looking-at-the-newest-s-p-500-sector-one-year-later">A Look At The Newest Sector And Its Biggest ETF</a>
<a href="https://www.benzinga.com/markets/cannabis/19/09/14509858/will-the-safe-act-benefit-marijuana-etfs">This Bill Could Lift Pot ETFs</a>

A Cheap Gold ETF Joins The $1B Club

Despite the bullishness in the stock market, gold maintained its sheen this year thanks to geopolitical concerns, instability in Europe and United States as well as lofty stock valuations. This is especially true, as the bullion has risen about 9.2% while the S&amp;P 500 Index has gained 13.2% in the year-to-date time frame. &nbsp;
	After the fourth consecutive weekly loss, gold price rebounded to a two-week high toward $1,300 per ounce level as uptick in geopolitical uncertainty raised demand for the precious metal as a safe haven. Tensions between the United States and North Korea flared up again this week after President Donald Trump tweeted that years of talking with North Korea over its nuclear buildup have proved futile and that &quot;only one thing will work.&quot; This sparked fears of World War 3, raising the appeal for the metal as a store of value and hedge against market turmoil. In addition, a Russian report shows that North Korea is preparing to test a missile that could potentially reach the United States (read: <a href="https://www.zacks.com/stock/news/278162/etf-strategies-to-benefit-from-north-korea-tensions">ETF Strategies to Benefit from North Korea Tensions</a>).
	Further, a soft dollar and dovish Fed minutes added to the strength. Though the December rate hike expectation remains intact, the minutes revealed low inflation concerns pushing the greenback down. The dollar index, which measures the greenback&#39;s value against a basket of six major currencies, touched its <a href="https://uk.reuters.com/article/uk-global-forex/dollar-slips-after-fed-minutes-eyes-on-u-s-inflation-data-idUKKBN1CH06W">lowest level since Sep 26</a>. A rise in euro is putting further pressure on the greenback. A weak dollar is a huge boon to gold prices, as it makes gold cheap for holders of other currencies.
	Moreover, higher demand in India, the world&#39;s second-biggest consumer of gold, is lending support to the price of the yellow metal. Notably, demand in India tends to rise in the final quarter due to the wedding and festive season (read: <a href="https://www.zacks.com/stock/news/274380/what-lies-ahead-for-gold-etfs">What Lies Ahead for Gold ETFs?</a>).&nbsp; &nbsp;
	How to Play?
	Given the optimism and intense buying pressure on gold, investors have a long list of options in the ETF world to tap the metal&#39;s rally.
	Gold ETFs
	While there are many products that are directly linked to the spot gold price or futures, we have highlighted the three most-popular ETFs. These have gained more than 12% in the year-to-date time frame and carry a favorable Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
	SPDR Gold Trust ETF GLD: This is the largest and most popular ETF in the gold space with AUM of $35.3 billion and average daily volume of around 7.8 million shares. The fund tracks the price of gold bullion measured in U.S. dollars, and kept in London under the custody of HSBC Bank USA. Expense ratio comes in at 0.40%.
	iShares Gold Trust IAU: This ETF offers exposure to the day-to-day movement of the price of gold bullion and is backed by physical gold under the custody of JP Morgan Chase Bank in London. It has AUM of $9.4 billion and trades in solid volume of 8.8 million shares a day on average. The ETF charges 25 bps in annual fees. &nbsp;
	ETFS Physical Swiss Gold Shares SGOL: This product also tracks the price of gold bullion and is backed by physical bullion under the custody of JPMorgan Chase Bank. It has amassed more than $1.0 billion in its asset base and trades in lower volume of 32,000 shares per day. The product has an expense ratio of 0.39% (read: <a href="https://www.zacks.com/stock/news/274380/what-lies-ahead-for-gold-etfs">What Lies Ahead for Gold ETFs?</a>).
	Leveraged Gold ETFs
	Investors who are bullish on gold may consider a near-term long on the precious metal with the following ETFs depending on their risk appetite.
	ProShares Ultra Gold ETF UGL: This fund seeks to deliver twice (2x or 200%) the return of the daily performance of gold bullion in U.S. dollars. It charges 95 bps in fees a year and has amassed $90.6 million in its asset base. Volume is light at about 41,000 shares per day. The ETF has gained 21.6% so far this year.
	DB Gold Double Long ETN DGP: This ETN seeks to deliver twice the return of the daily performance of the DBIQ Optimum Yield Gold Index Excess Return, charging 75 bps in fees per year. It has accumulated $118.4 million in its asset base so far and trades in an average daily volume of 34,000 shares. The ETN is up 24.6% this year (see: <a href="https://www.zacks.com/funds/etfs/etf-categories/Leveraged-Commodity-ETFs-46">all the Leveraged Commodity ETFs here</a>).
	VelocityShares 3x Long Gold ETN UGLD: This product provides three times (3x or 300%) exposure to the daily performance of the S&amp;P GSCI Gold Index Excess Return plus returns from U.S. T-bills net of fees and expenses. The ETN has been able to manage an asset base of $108 million while charging a higher fee of 1.35% annually. However, the note trades in a solid volume of about 669,000 shares a day on average and has surged 32.3% in the year-to-date time frame.
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UGLD

Gold Set To Sparkle In Q4: ETFs To Consider

The U.S. dollar is one of this year&#39;s most disappointing developed market currencies, but that is not helping the commodities complex. Most commodities, an asset class denominated in dollars, are sagging, but some precious metals have been notable exceptions.
Among exchange-traded products, the ETFS Gold Trust (NYSE: <a class="ticker" href="/stock/sgol#NYSE">SGOL</a>) is up 9.4 percent year to date while the ETFS Physical Palladium Shares (NYSE: <a class="ticker" href="/stock/pall#NYSE">PALL</a>) is up a stunning 26.9 percent. Sturdy precious metals prices are helping the ETFS Precious Metals Baskets Trust (NYSE: <a class="ticker" href="/stock/gltr#NYSE">GLTR</a>) to a year-to-date gain of more than 8 percent.
<h3>All That Glitters ...</h3>
GLTR holds a basket of physical gold, silver, palladium and platinum.
&ldquo;Given this action in Precious Metals amid the FOMC rate backdrop, we are also looking at diversified &#39;Precious Metal&#39; ETPs that generally appeal to those investors and portfolio managers whom prefer &#39;basket&#39; exposure to the space as opposed to betting on specifically Gold or Silver for example,&rdquo; said <a href="http://streetonefinancial.com/">Street One Financial</a> Vice President Paul Weisbruch in a note out Wednesday.
<h3>Pondering Palladium</h3>
Although gold and silver loom large in GLTR, palladium, until this week, has been helping the ETF surge.
&ldquo;The background for palladium is for good industrial demand and likely a significant market deficit this year, and on top of course you&rsquo;ve got this speculative squeeze,&rdquo; Mitsubishi analyst Jonathan Butler said, <a href="http://www.reuters.com/article/us-global-precious-idUSKBN1902H0">reported Reuters</a>.
Palladium supply is expected to be in a deficit again this year, which could help deliver more upside for PALL and GLTR.
&ldquo;Traders reported a reluctance to lend the metal, suggesting tightness in near-term supply. Chart patterns indicate that the metal is vulnerable to a sell-off from these elevated levels, however, technical analysts said,&rdquo; according to Reuters.
<h3>Macro Trends, Influences</h3>
While precious metals retreated Wednesday after the Federal Reserve boosted interest rates, inflation could portend more benefits for gold and friends.
As <a href="https://www.benzinga.com/trading-ideas/long-ideas/17/05/9417254/a-surprise-friend-for-gold-etfs">Benzinga reported earlier this year</a>, &ldquo;Data suggests inflation is rising, which could bode well for gold ETFs because the yellow metal is often embraced as an inflation hedge. Accounting for inflation, real U.S. interest rates are in negative territory, further increasing the potential for out-performance by gold relative to other safe-haven assets.&rdquo;
Related Links:
<a href="https://www.benzinga.com/news/17/06/9609279/fed-hikes-rates-without-disrupting-the-market-classic-yellen">Fed Hikes Rates Without Disrupting The Market: 'Classic Yellen'</a>
<a href="https://www.benzinga.com/general/education/17/06/9608611/is-bitcoin-the-new-gold-still-too-early-to-say">Is Bitcoin The New Gold? Still Too Early To Say</a>

Long Ideas

ETFS Physical Precious Metal Basket Shares

GLTR

PALL

Revisiting An Overlooked Precious Metals ETF

Precious metals were the best-performing commodities of the first quarter, and some analysts believe the volatile nature of President Donald Trump&rsquo;s first months in office played a big part.
A <a href="https://seekingalpha.com/article/4059564-precious-metals-q1-2017-review-outlook-q2">composite</a> of the active month futures prices of the four exchange-traded precious metals moved higher by an average of 11.45 percent in the first quarter.
&ldquo;Love him or hate him, there&#39;s one thing that President Donald Trump has done since he took over the White House, and that&#39;s create a lot more uncertainty around the world,&rdquo; wrote stock picker Michael Lombardi in <a href="https://www.lombardiletter.com/greatest-president-ever-precious-metal-prices/10277/">&ldquo;The Lombardi Letter.&rdquo;</a> &ldquo;And this is great for precious metal prices.&rdquo;
Lombardi cited Trump&rsquo;s bombings of Syria and Afghanistan and his rhetoric about sending an aircraft carrier fleet toward North Korea &mdash; something the Pentagon later recanted &mdash; as reasons why investors were seeking out the traditional, post-apocalyptic safe havens of gold and silver.
&ldquo;Since the U.S. (fired) Tomahawk missiles on Syria, gold prices have made an almost-vertical move to the upside,&rdquo; he said.
<h3>Scary Silver Lining</h3>
Silver was up more than 13 percent year-to-date, and not just as a sanctuary move. Lombardi said each Tomahawk missile contains 15 kilograms of silver wires and batteries, meaning that the 59 fired on Syria contained 31,200 ounces of the metal.
&ldquo;Yes, silver is a precious metal that investors often flock to (alongside gold) in times of uncertainty,&rdquo; he said. &ldquo;But silver is also used in the aerospace and defense sectors, so a lot more silver could be needed if the U.S. goes to war again.&rdquo;
Benchmark New York gold futures edged up to a five-month high on Tuesday and closed at $1,291.7 per troy ounce, the <a href="http://asia.nikkei.com/Markets/Commodities/Gold-price-edges-up-to-five-month-high-widens-spread-between-platinum">Nikkei Asian Review</a> said.
<h3>Metals Bump Began With Breixit</h3>
Market analyst Itsuo Toshima told the review that the demand for gold was robust even before the geopolitical tensions of recent weeks. &quot;From Brexit to the Trump administration, a series of unexpected events across the world have been pushing up gold demand among investment funds,&quot; he said.
Silver was trading at $18.13 an ounce after hitting a three-month high of $18.60 on Monday, according the APMEX metals index. Palladium was at $797.80 after reaching its three-month high of $812.50 on March 24. Gold was $1,290.70 after posting its three-month $1,294.90 on Tuesday.
Platinum, a scarcer metal that historically outperforms gold, was at $980 an ounce on Thursday.
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/04/9281777/war-torn-afghanistan-sits-stubbornly-atop-vast-reserves-">War-Torn Afghanistan Sits Stubborn Atop Vast Reserves</a>
<a href="https://www.benzinga.com/markets/emerging-markets/17/04/9305488/is-trumps-foreign-policy-belligerence-a-diversion-from-a-stal">Is Trump's Foreign Policy Belligerence A Diversion From A Stalled Agenda?</a>

Erratic Trump Prompts Investors To Seek Safety In Silver, Gold

E*Trade Financial Corporation (NASDAQ: <a class="ticker" href="/stock/etfc#NASDAQ">ETFC</a>), one of the largest discount brokers, added to its offering of commission-free exchange-traded funds in significant fashion last week, announcing it has added 47 ETFs from five providers to its commission-free stable since the start of 2017.
<h3>E*Trade Initiative</h3>
Issuers making their debut on E*Trade&#39;s commission-free ETF platform are ETF Securities, Guggenheim Investments, IndexIQ, John Hancock and JPMorgan Chase &amp; Co. (NYSE: <a class="ticker" href="/stock/jpm#NYSE">JPM</a>)'s JPMorgan Asset Management.
E*Trade clients can now trade 133 ETFs on a commission-free basis and 4,400 no-transaction-fee mutual funds, <a href="http://www.businesswire.com/news/home/20170224005360/en/E*TRADE-Expands-Lineup-Funds-47-Commission-Free-ETFs">according to a statement</a>.
Among the well-known ETFs just added to E*Trade&#39;s commission-free roster are the ETFS Gold Trust (NYSE: <a class="ticker" href="/stock/sgol#NYSE">SGOL</a>), Silver Trust (NYSE: <a class="ticker" href="/stock/sivr#NYSE">SIVR</a>) and the Guggenheim S&amp;P 500 Equal Weight ETF (NYSE: <a class="ticker" href="/stock/rsp#NYSE">RSP</a>).
Related Link: <a href="https://www.benzinga.com/trading-ideas/long-ideas/17/02/9091612/powershares-launches-four-multi-asset-etfs">PowerShares Launches 4 Multi-Asset ETFs</a>
Additionally, all of Guggenheim&#39;s equal-weight sector ETFs along with equal-weight spins on the S&amp;P SmallCap Index and the S&amp;P MidCap 400 Index are now available on E*Trade without commissions.
Two of John Hancock&#39;s broad market smart beta ETFs and nine of the issuer&#39;s smart beta sector ETFs are available to <a href="https://www.benzinga.com/trading-ideas/long-ideas/15/10/5914739/examining-the-helpfulness-of-hancocks-etfs">E*Trade clients commission-free</a>.
Other new additions to the E*Trade commission-free ETF lineup include the JPMorgan Diversified Return U.S. Mid Cap Equity ETF (NYSE: JPME) and the JPMorgan Diversified Return Emerging Markets Equity ETF (NYSE: <a class="ticker" href="/stock/jpem#NYSE">JPEM</a>).
<h3>36 ETFs</h3>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/17/01/8876323/e-trade-bolsters-commission-free-etf-lineup">In January</a>, E*Trade announced the addition of 36 ETFs to commission-free platform.
A full list of the 47 ETFs recently added to E*Trade&#39;s no-commission suite is available <a href="http://www.businesswire.com/news/home/20170224005360/en/E*TRADE-Expands-Lineup-Funds-47-Commission-Free-ETFs">here</a>.

Broad U.S. Equity ETFs

ETFC

JPEM

Rydex ETF Trust Rydex S&P Equal Weight ETF

E*Trade Adds More Commission-Free ETFs

Investors have heard plenty about gold and the relevant exchange traded funds this year and with good reason. &quot;Good reason&quot; being the SPDR Gold Shares (NYSE: <a class="ticker" href="/stock/gld#NYSE">GLD</a>), iShares Gold Trust (NYSE: <a class="ticker" href="/stock/iau#NYSE">IAU</a>) and the ETFS Swiss Physical Gold Shares (NYSE: <a class="ticker" href="/stock/sgol#NYSE">SGOL</a>) are each sporting year-to-date gains of just under 18 percent.

	A variety of reasons have been cited as catalysts for the 2016 bullion bounce. Negative interest throughout the developed world and the Federal Reserve appearing as though it will not be able to raise U.S. borrowing costs by as much as previously thought are chief among those reasons.

	Things are going for well for gold and gold ETFs that GLD is this year&#39;s top asset-gathering ETF and iShares, temporarily, had to limit creations of IAU. The $6.04 billion added by GLD is more than double the inflows accrued by the second-best asset-gathering ETF.

	Obviously, gold ETFs are loving low and negative interest rates.

	Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/03/7742697/bullion-and-gold-etfs-get-a-boost-from-the-federal-reserve">Bullion And Gold ETFs Get A Boost From The Federal Reserve</a>

	&quot;Outside of the US, the yield picture is even worse. Five-year nominal yields in Japan are negative 1.6%, which means that investors are actually paying the government when they purchase Japanese government bonds. The picture is not much better in Europe and helps to explain why gold&rsquo;s zero yield is no longer a barrier to entry for investors,&quot; said State Street Vice President David Mazza <a href="http://blog.spdrs.com/post/5-charts-that-explain-whats-driving-todays-gold-rush">in a recent note</a>.

	Gold often falls out of favor when investors chase stocks when stocks are hot, but popular equity-based broad market ETFs are dithering this year. Obviously, GLD up almost 18 percent looks a lot better than the 0.9 percent returned by S&amp;P 500 funds.

	For gold bugs, there is nothing wrong with safe-haven demand and 2016&#39;s market action is, to this pointing, reminding investors of gold&#39;s utility. In fact, gold has proven its mettle during market crises ranging from the Soviet sovereign debt crisis to the Long Term Capital Management meltdown to the global financial crisis.

	Further boosting the case for gold is weak earnings growth in the U.S.

	&quot;Earnings-per-share (EPS) growth for US companies in the years following the financial crisis was on an upswing, boosting equity market returns. In recent months, we have seen EPS growth head into negative territory as a strong US dollar and weak global demand hinder corporations&rsquo; ability to drive margins,&quot; adds Mazza.

	Disclosure: The author owns shares of IAU.

Here's Why Gold ETFs Are Hot

Financial markets continue to evolve, but some portfolio managers and market theorists still place an emphasis on proper asset allocation. To be sure, there's something to be said for having a portfolio that stretches beyond the confines of just one asset class. 

Fortunately for investors that don't find the subject of proper asset allocation to be stimulating conversation, there are ETFs to help with the chore of ensuring one's portfolio has the look of being allocated the way some of the pros would recommend. 

Not surprisingly, asset allocation funds are another are of the exchange-traded products universe that ETF sponsors are looking to for future growth as more of these funds <a href="http://www.benzinga.com/markets/bonds/12/04/2500353/advisorshares-may-list-business-cycle-etf-dbiz-hdge-hyld">are seen coming to market</a>. 

For now, we'll focus on the currently existing products starting with the...

iShares S&amp;P Conservative Allocation Fund (NYSE: <a class="ticker" href="/stock/aok#NYSE">AOK</a>)
The iShares S&amp;P Conservative Allocation Fund, which will turn four years old later this year, is really an ETF fund of funds as its top-10 holdings are all other iShares ETFs. Looking at the asset class breakdown, AOK is definitely conservative as U.S. fixed income funds account for almost 74% of the fund's weight. Domestic and global stocks account for the rest. 

The iShares Barclays Aggregate Bond Fund (NYSE: <a class="ticker" href="/stock/agg#NYSE">AGG</a>) by itself commands an allocation of nearly 30% in AOK. Other holdings include the iShares Barclays Short Treasury Bond Fund (NYSE: <a class="ticker" href="/stock/shv#NYSE">SHV</a>) and the iShares iBoxx $ High Yield Corporate Bond Fund (NYSE: <a class="ticker" href="/stock/hyg#NYSE">HYG</a>).

iShares S&amp;P Growth Allocation Fund (NYSE: <a class="ticker" href="/stock/aor#NYSE">AOR</a>)
The iShares S&amp;P Growth Allocation Fund is also nearly four years old and it's one of the largest asset allocation ETFs on the market today with over $136 million in assets under management. Some investors might assume AOR is loaded with speculative fare because "growth" is in the ETF's name. That's not the case. 

The iShares S&amp;P 500 Index Fund (NYSE: <a class="ticker" href="/stock/ivv#NYSE">IVV</a>) accounts for 34.4% of AOR's weight while AGG chimes in at almost 20%. The fund also features exposure to the iShares S&amp;P SmallCap 600 Index Fund (NYSE: <a class="ticker" href="/stock/ijr#NYSE">IJR</a>) and the iShares MSCI Emerging Markets Index Fund (NYSE: <a class="ticker" href="/stock/eem#NYSE">EEM</a>).

PowerShares RiverFront Tactical Growth &amp; Income Portfolio (NYSE: <a class="ticker" href="/stock/pca#NYSE">PCA</a>)
The PowerShares RiverFront Tactical Growth &amp; Income Portfolio, which will turn four in a few weeks and is home to $17.3 million in AUM, uses a similar approach to AOK and AOR in that it's an ETF fund of funds. 

PCA current asset allocation breakdown is almost 41% fixed income, just over 40% to U.S. stock ETFs and 15.1% to international stock ETFs. Top-10 holdings include the PowerShares Fundamental High Yield Corporate Bond ETF (NYSE: <a class="ticker" href="/stock/phb#NYSE">PHB</a>), the PowerShares Dividend Achievers ETF (NYSE: <a class="ticker" href="/stock/pfm#NYSE">PFM</a>) and the PowerShares Hi-Yield Dividend Achievers ETF(NYSE: <a class="ticker" href="/stock/pey#NYSE">PEY</a>). PCA also features iShares, SPDRs, Vanguard and WisdomTree ETFs among its holdings.

Global X Permanent ETF (NYSE: <a class="ticker" href="/stock/perm#NYSE">PERM</a>)
The Global X Permanent ETF debuted in February and has thus far done a fine job of attracting assets from investors as the fund is now home to $11.1 million in AUM. The ETFS Physical Swiss Gold Shares (NYSE: <a class="ticker" href="/stock/sgol#NYSE">SGOL</a>) is PERM's top holding at almost 20% of the fund's weight and the ETFS Physical Silver Shares (NYSE: <a class="ticker" href="/stock/sivr#NYSE">SIVR</a>) accounts for almost 5%.

Long-term and short-term Treasuries each receive allocations of roughly 25%. The other quarter of PERM's weight goes to a mix of domestic and international equities, but unlike the other funds on this list, PERM does hold common stocks and ADRs such as Apple (Nasdaq: <a class="ticker" href="/stock/aapl#Nasdaq">AAPL</a>), Chevron (NYSE: <a class="ticker" href="/stock/cvx#NYSE">CVX</a>), Royal Dutch Shell (NYSE: RDS-A) and Rio Tinto (NYSE: <a class="ticker" href="/stock/rio#NYSE">RIO</a>). Two Vanguard ETFs are also found among PERM's equity holdings.

For more on forgotten ETFs, please click <a href="http://www.benzinga.com/trading-ideas/long-ideas/12/04/2476979/4-ex-etfs-your-broker-forgot-to-mention-dtn-axen-fdt">HERE</a>.

Bonds

Short Ideas

New ETFs

Futures

After-Hours Center

AAPL

PowerShares RiverFront Tactical Growth & Income Portfolio

PERM

PowerShares Exchange Traded Fund Trust Dividend Achievers Portfolio

PowerShares Fundamental High Yieldorate Bond Portfolio

4 Asset Allocation ETFs Your Broker Forgot to Mention (PERM, PCA)

"Permanent" is strong word in life and in investing. Even Warren Buffett, who has famously said multiple times that his favorite holding period for a stock is "forever," does sell some equity positions from time-to-time. 

Maybe nothing is forever, but it is possible for investors to own an ETF designed to help endure multiple market settings and that fund is the newly minted Global X Permanent ETF (NYSE: <a class="ticker" href="/stock/perm#NYSE">PERM</a>), which debuted on February 8.

The Global X Permanent ETF is off to a fine start, at least terms of attracting assets. PERM has over $9.9 million in AUM as investors have appeared intrigued by the fund's composition, which offers exposure to various asserts class designed to position PERM to weather market volatility.

When PERM debuted, it had target allocations of 25% to equity stocks, 25% to short term bonds, 20% to gold and 5% to silver, and 25% to long term bonds. PERM does not try to beat an index but rather maintains target allocations through passive indexing, according to a statement issued by Global X. 

Today, more than 24% of PERM's weight is allocated to the ETFS Physical Swiss Gold Shares (NYSE: <a class="ticker" href="/stock/sgol#NYSE">SGOL</a>) and the ETFS Physical Silver Shares (NYSE: <a class="ticker" href="/stock/sivr#NYSE">SIVR</a>) and the bond allocations are approximately true to the desired 25% to short-term and 25% to long-term desired weights.

The rest of the ETF's holdings are spread among U.S. large-caps, real estate stocks, materials names, global stocks and U.S. small-caps.

PERM's next largest positions include a 3.23% allocation to the Vanguard Small-Cap ETF (NYSE: <a class="ticker" href="/stock/vb#NYSE">VB</a>) and a 3.21% weight to the Vanguard FTSE All-World ex-US ETF (NYSE: <a class="ticker" href="/stock/veu#NYSE">VEU</a>).

In terms of individual stocks, PERM's 10 largest positions are all REITs, led by Prologis (NYSE: <a class="ticker" href="/stock/pld#NYSE">PLD</a>). The ETF does offer exposure to plenty of major energy and materials names such as Chevron (NYSE: <a class="ticker" href="/stock/cvx#NYSE">CVX</a>), Potash (NYSE: <a class="ticker" href="/stock/pot#NYSE">POT</a>) and BHP Billiton (NYSE: <a class="ticker" href="/stock/bhp#NYSE">BHP</a>), but on a percentage basis, energy and materials account for just over 5% of the fund's weight.

Technology and financial services names are also littered throughout PERM's equity positions. Apple (Nasdaq: <a class="ticker" href="/stock/aapl#Nasdaq">AAPL</a>), Bank of America (NYSE: <a class="ticker" href="/stock/bac#NYSE">BAC</a>), Google (Nasdaq: <a class="ticker" href="/stock/goog#Nasdaq">GOOG</a>), Goldman Sachs (NYSE: <a class="ticker" href="/stock/gs#NYSE">GS</a>), Qualcomm (Nasdaq: <a class="ticker" href="/stock/qcom#Nasdaq">QCOM</a>) and J.P. Morgan Chase (NYSE: <a class="ticker" href="/stock/jpm#NYSE">JPM</a>) are among the familiar, large-cap names found in PERM's lineup.

PERM has been lagging the broader market since its debut, but it's not unfair to pin the reason for that slack performance on gold in silver. In the past month, PERM is down 2%, but SGOL is down more than 4% and SIVR has plunged 8% over the same time. And that anecdote may indicate that even though it's a new fund with a small data sample to draw from, PERM may already be living up to its billing as a way of helping investors with longer time horizons cope with near-term market volatility.

Intraday Update

GOOG

QCOM

Checking In: A Permanent Place In Your Portfolio? (PERM, SIVR, VEU)

ETF Securities, the London-based ETF issuer most known for its commodities funds, has hired Goldman Sachs (NYSE: <a class="ticker" href="/stock/gs#NYSE">GS</a>) to manage a sale of the company that could be worth up to $1.6 billion, according to the <a href="">Financial Times</a>.

Earlier this year, there was speculation ETF Securities found Graham Tuckwell might be mulling a sale or an IPO of his firm, which now lists more than 200 exchange-traded products on various global exchanges. 

In the U.S., ETF Securities has seven ETFs with over $2.8 billion in assets under management, according to the firm's Web site. Overall, the company has $28.2 billion in AUM. 

The FT article credits Tuckwell with helping the World Gold Council introduce the SPDR Gold Shares (NYSE: <a class="ticker" href="/stock/gld#NYSE">GLD</a>), the world's second-largest ETF by assets, in 2004.

Among ETF Securities' more popular U.S.-listed funds are the ETFS Physical Swiss Gold Shares (NYSE: <a class="ticker" href="/stock/sgol#NYSE">SGOL</a>), the ETFS Physical Silver Shares (NYSE: <a class="ticker" href="/stock/sivr#NYSE">SIVR</a>), the ETFS Physical Palladium Shares (NYSE: <a class="ticker" href="/stock/pall#NYSE">PALL</a>) and the ETFS Physical Platinum Shares (NYSE: <a class="ticker" href="/stock/pplt#NYSE">PPLT</a>).

Rumors

PPLT

ETF Securities Hires Goldman to Manage Sale, FT Reports

Earlier this week, we lamented the fate of five ETFs that had seen substantial outflows in recent months. Well, we're not Debbie Downers here and we do like to be fair, so this time around we'll look at five ETFs that investors have been rewarding with ample amounts of fresh capital recently.

Of the five constituents on this list, one won't surprise anyone. One has boomed in just the past few days. Two are ETFs a lot of investors haven't even heard of yet and the other member is the largest fund tracking its respective sector.

With that, here's our list of five ETFs seeing substantial inflows.

Direxion Daily Financail Bull 3X Shares (NYSE: <a class="ticker" href="/stock/fas#NYSE">FAS</a>):
In one trading week through Oct. 6, FAS has garnered $215 million in new assets. That's not going to be enough to convince anyone that bank stocks are suddenly great investments, but it's probably enough to say financials are worth a look as a short-term trade from the long side.

ETF Securities Physical Swiss Gold Shares (NYSE: <a class="ticker" href="/stock/sgol#NYSE">SGOL</a>):
This is the member of the list that we said won't surprise anyone. In late March, SGOL had $1 billion in AUM. Today the ETF has over $1.84 billion in AUM and as gold prices keep climbing and investors look for storage outside the U.S., SGOL will continue to flourish.

Consumer Staples Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlp#NYSE">XLP</a>):
The Consumer Staples Select Sector SPDR has been rewarded by the perception staples are less bad than the broader market during downturns. This ETF that your grandparents would love had $4.2 billion in AUM on May $24. As of Oct. 5, it had over $5.1 billion. Not a bad jump considering what the market has been up to, er, down to recently.

MAXIS Nikkei 225 Index ETF (NYSE: <a class="ticker" href="/stock/nky#NYSE">NKY</a>):
Issued by Precidian Funds, the MAXIS Nikkei 225 Index ETF made its debut in August and got off to a stellar start, quickly accumulating $100 million in AUM. A roughly 38% jump in two months $138 million isn't too shabby, especially in this market environment.

Market Vectors EM Local Currency Bond ETF (NYSE: <a class="ticker" href="/stock/emlc#NYSE">EMLC</a>):
Maybe it's because bond ETFs of all stripes have been seeing big inflows. Or maybe it's because investors want bond ETFs that aren't littered with U.S. government debt and low-yielding corporate fare. Either way, the Market Vectors EM Local Currency Bond ETF had $338.6 million in AUM on May 24th. As of Oct. 5, it had nearly $508 million.

Emerging Market ETFs

Currency ETFs

Market Vectors Emerging Markets Local Currency Bond ETF

EMLC

Five ETFs Seeing Impressive Inflows

Gold may not be the perfect safe haven but it's sure the best one we have and we can use all of the confidence we can muster. 

	Consumer confidence in the U.S. fell this month to the lowest level since March of 2009. Just to refresh your memory that was when the Dow was at 6400, the S&amp;P was at 667 and the NASDAQ was trading at 1265. 

You may argue that since consumer views are usually wrong the contrarian view is actually positive for stocks. Sadly I don't share this contrarian view. What I see happening is that we will stage a nice “head fake” rally in September and then at the end of September the market will bounce around and consolidate. In October the market will sell off with a vengeance. We will see the S&amp;P at 1040 before it's done. 

	Gold continued its rise this week as it rose in New York, capping the biggest monthly gain since November 2009, on speculation that the Federal Reserve will take more action to spur growth. This will only fuel the fire that is already burning out of control in gold. Gold prices have moved too far and too fast. When this happens increased volatility is the normal result. Healthy stocks in an uptrend like to move at a 45 degree angle. When a stock goes up in a straight line it is never really sustainable. 
	Despite pullbacks, I believe that gold's position as a safe haven is intact. I believe prices will eventually trend higher because of these for secular trends.

1)	The law of supply and demand is a pivotal factor in supporting the eventual rise in gold prices. From 2005 to 2009, the gold industry received 59% of its supply from mining production, 31% from recycled or scrap gold and 10% from central bank sales. Well central banks are no longer selling their gold. The amount of scrap gold is falling as investors hoard the metal, which leaves mines to fill the gap. I will add here that while we have seen the gold miners ETF, GDX put in a tremendous show of strength lately and I believe we will see the GDX start to put in a strong showing very soon. 

2)	In the Worlds Gold Council's recent Gold Demand Trend Report for the second quarter of 2011, mine supply grew 7% to 708.8 tons but total supply was unchanged as gold producers de-hedged and sopped up excess gold. 

3)	The above ground supply is estimated to be around 165 metric tons and half of that is in the form of jewelry. Of the 82,500 tons remaining in bullion, 30,000 tons are owned by central banks and the rest is privately held. 

4)	The total gold demand for the second quarter was 919.8 tons which far outpaced the growth in mine supply. This leads further credence to my belief that we may soon see the GDX enjoy gains it has rightfully deserved. 


One thing is for sure. Gold has lost a big buyer recently, the miners. Miners have been buying gold on the open market to eliminate hedging positions, where they had been previously locked in to gold sales at a lower price. This was a brilliant tactical move on the part of the miners as the role of dehedging has been instrumental in pushing gold prices higher and without it, the market loses the key driver. 

One factor that could help is the advent of physically backed gold ETFs. Along with GLD, the Swiss Gold Shares (<a class="ticker" href="/stock/sgol#">SGOL</a>), the Central Fund of Canada (<a class="ticker" href="/stock/cef#">CEF</a>) and the Sprott Physical Gold Trust (<a class="ticker" href="/stock/phys#">PHYS</a>) they hold 1,400 tons of gold or more than half of the annual production. 

	As I said earlier the big winner will be the gold miners. I see the Gold Market Vectors ETF (<a class="ticker" href="/stock/gdx#">GDX</a>) making substantial gains in the near future. Other name to keep an eye out for are the best for the breed miners like Barrick (<a class="ticker" href="/stock/abx#">ABX</a>), Newmont Mining (<a class="ticker" href="/stock/nem#">NEM</a>), Goldcorp (<a class="ticker" href="/stock/gg#">GG</a>) and Kinross (<a class="ticker" href="/stock/kgc#">KGC</a>).

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