Yes as elite institutions are quietly exploiting the dip. Just this week UBS adjusted its year end gold price target to USD 5,500, citing that Gold's long term structural bull case remains entirely intact. It regards higher bond yields as a short term cyclical headwind.
Not all central banks are selling gold. China and India are still buying Gold to de-risk their sovereign reserves.
I would continue to hold $Gold Trust Ishares(IAU)$ instead of $SPDR Gold ETF(GLD)$ as it has a lower expense ratio of 0.25% compared to GLD's 0.40%. However for traders, they would prefer GLD as it possesses an unparalleled trading liquidity being the largest Gold ETF by Assets under management.
IAU is a good tactical bet against high inflation too.
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- icycrystalΒ·05-29 14:24TOPthanks for sharing1Report