“Gold Hits Record Highs: Top 5 ETFs to Ride the Rally”

Gold has been shining bright this year, reaching new all-time highs and outperforming the broader market index. With the bullion topping $2,700 per ounce for the first time, investors are flocking to gold as a safe-haven asset amidst U.S. election jitters and rising geopolitical tensions in the Middle East.

The optimism surrounding gold has led investors to explore various options to capitalize on the metal’s rally. Here are the top five popular options directly linked to the spot gold price or futures:

1. SPDR Gold Trust ETF (GLD): This ultra-popular gold ETF tracks the price of gold bullion measured in U.S. dollars and has an AUM of $75.5 billion.

2. iShares Gold Trust (IAU): Backed by physical gold under the custody of JP Morgan Chase Bank in London, this ETF offers exposure to the day-to-day movement of the gold price.

3. SPDR Gold MiniShares Trust (GLDM): A low-cost alternative to GLD, this ETF seeks to reflect the performance of the price of gold bullion.

4. Aberdeen Standard Physical Swiss Gold Shares ETF (SGOL): This ETF tracks the price of gold bullion and holds allocated physical gold bullion bars stored in secure vaults in Zurich, Switzerland and London.

5. iShares Gold Trust Micro (IAUM): The lowest-cost gold ETF on the market, offering exposure to the day-to-day movement of the gold price.

Several factors are driving the gold price higher, including U.S. election uncertainty, geopolitical tensions in the Middle East, loose monetary policy, and central bank purchases of gold. The upcoming U.S. elections, the conflict between Israel and Hezbollah, and the loose monetary policy environment have all contributed to the surge in gold prices.

Central banks around the world, including the Federal Reserve and the European Central Bank, have been cutting interest rates to stimulate economic growth, making gold more attractive compared to fixed-income assets. Additionally, strong physical buying from central banks has provided support for the bullion.

Overall, the current environment is favorable for gold investors, with the metal’s price hitting new highs and showing no signs of slowing down. As investors continue to seek safe-haven assets amidst market volatility, gold remains a top choice for preserving wealth and hedging against geopolitical risks.