Two decades later, the creators of the first gold-tracking ETF are still bullish on the commodity.
“The rest of the year and next year are looking good,” George Milling-Stanley told CNBC.ETF Edge“This week.
The chief gold strategist at State Street Bank highlighted demand from central banks and individual investors in emerging markets such as India and China as the main driver of the precious metal.
Even the post-election pullback gold futures and SPDR Gold Stock ETF (GLD) It doesn’t tarnish this year’s record.
Milling-Stanley said “investors have been enthusiastic about risk assets” since the Nov. 5 election. “That’s why we’re seeing a big rise in stocks, why we’re seeing a big rise in cryptocurrencies.”
But precious metals, in turn, GLD Millin-Stanley said ETFs “are starting to make up some lost ground.”
GLD chart since inception
The launch of GLD ETF A game changer for product ownership when it launched 20 years ago.
Since then, gold investments have shifted away from jewelry and toward gold bars and ETFs as demand for the precious metal surges. Millin-Stanley described the increase in investor demand as a “seismic change” in the commodities investing landscape and overall portfolio management.
Todd Sohn, ETF and technology strategist at Strategas GLD Because ETFs can provide a wider range of investment opportunities, more investors are attracted to invest in gold.
“Whatever your end game is, GLD Allowing you to add something to your portfolio outside of stocks and fixed income instruments so you can be diversified,” Sohn said.
Since its establishment, GLD It’s up 451%. It will grow by 29% in 2024.
