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Gold ETFs are once again back in the spotlight as market uncertainty intensifies, and the figures tell the story. The largest gold ETFs have performed well in the last six months.
Markets are pricing an 87% likelihood of a cut in September and a 49% likelihood for October, according to the CME FedWatch Tool. Rate cuts generally soften the U.S. dollar as it loses its appeal among foreign investors. It is important to note here that the dollar has already lost its charm this year. Gold demand rises as the dollar loses its appeal, making this year a favorable time to consider gold investments.
At the top is SPDR Gold Trust (NYSE:GLD), the world's largest physical gold ETF, managing roughly $102.7 billion in assets. Its average daily trading volume of 6.84 million shares makes it the most liquid option, ideal for traders who want flexibility. For those seeking lower costs, iShares Gold Trust (NYSE:IAU) and SPDR Gold MiniShares (NYSE:GLDM) are standout choices. IAU charges 0.25% while GLDM is even cheaper at 0.10%, making them attractive for buy-and-hold investors.
Other top contenders are abrdn Physical Gold Shares (NYSE:SGOL) and Goldman Sachs Physical Gold ETF (BATS:AAAU), both with competitive cost ratios and good tracking of spot gold.
Together, the above funds have advanced almost in tandem, appreciating around 18% in the past six months.
The optimistic sentiment surrounding gold has been driven by the anticipation that the Federal Reserve may begin cutting rates in the near future. Federal Reserve Chair Jerome Powell, at the Jackson Hole symposium, indicated that a September rate cut is being considered.
Renewed concerns about inflation are once again weighing on consumer sentiment. The University of Michigan’s Consumer Sentiment Index fell to 58.6 this month, from 61.7 in July, missing expectations of a rise to 62. Consumer inflation expectations rose in August to 4.9% from 4.5% the previous month, and long-term expectations climbed to 3.9%.
For investors, gold ETFs remain one of the easiest means of exposure to the metal’s safe-haven appeal. Whether in the form of GLD for liquidity, GLDM and IAU for low costs, or SGOL and AAAU for diversification, these funds provide an easy hedge against rate action, inflation, and global turmoil. In today’s environment, holding the dip in gold ETFs may be profitable.
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