Published on 17 Nov 2022 on Zacks via Yahoo Finance
Can Gold ETFs Rebound Ahead?
After wild swings, gold showed a strong rebound at the start of the fourth quarter. The fall in U.S. dollar and a decline in yields bolstered the demand for the yellow metal. Additionally, the demand for inflation hedge and growing recession fears are driving investors toward gold, as it is considered a safe haven.
As such, gold ETF rallied over the past week with GraniteShares Gold Trust BAR, iShares Gold Trust IAU, SPDR Gold Shares GLD, iShares Gold Strategy ETF IAUF, and Aberdeen Standard Physical Swiss Gold Shares ETF SGOL gaining more than 3% each.
Factors Driving Gold Price