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Gold November 20, 2019 09:30:17 AM

SPDR Gold Shares Attracted $5.5 Billion in Assets

Paul Ploumis
ScrapMonster Author
The gold ETF has given better returns than S&P 500 over the years.

SPDR Gold Shares Attracted $5.5 Billion in Assets

SEATTLE (Scrap Monster): The world’s largest physical gold-backed exchange traded fund (ETF), SPDR Gold Shares (GLD), has attracted nearly $5.5 billion in assets so far this year. The fund registered notable growth, amidst tough competition from rival funds. Incidentally, the fund, established in November 2004, is about to complete 15 years.

The gold ETF has given better returns than S&P 500 over the years. The fund has reported a growth of 210% since its launch, as compared with S&P 500, whose returns over the same period of time stands at 164%. It has emerged as the world’s largest and most liquid gold-backed ETF with more than $40 billion in assets.

ALSO READ: Gold-Backed ETF Inflows Surged to Hit Highest Level in Almost 7 Years

According to market participants, GLD’s launch has revolutionized the way investors could access gold. It has opened up a cheaper way to invest in gold instead of purchasing expensive gold bars. It has also helped investors in diversifying their portfolio, thus helping them to protect their assets during times of U.S. equity market downturns.

The recent report published by the World Gold Council (WGC) had noted that gold’s investment demand almost doubled during Q3 this year, mainly on the back of exceptionally strong ETF inflows. As per data, the holdings in gold-backed ETFs soared to hit an all-time high of 2,855.3 tonnes in Q3 2019.

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