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Tuesday, September 15, 2009

Some New ETFs Are As Good As Gold

News summary by MFWire's editors

As the price of gold rises over the $1000 per ounce benchmark, so have the number of ETF's based on the precious metal.

The most recent Fund Track column in the Wall Street Journal reports that gold-based funds may be a good defense for those investors worried about inflation and the questionable global economy.

While the $1000 price of gold has triggered the creation of new funds, such as ETF Securities' Physical Swiss Gold Shares, existing gold-funds such as the SPDR Gold Shares have seen a surge of growth. That fund's assets have climbed to $35 billion, just short of the fund's record set last June.

However, not all that's gold glitters, according to Vitaliy Katsenelson, director of research at Investment Management Associates.

"If gold keeps climbing, the ease of buying will drive gold prices higher than in SPDR Gold Shares' absence," Mr. Katsenelson told WJS. "In the event of a significant selloff, there are not enough natural buyers of physical gold. It is a bit like a roach motel -- easy to get in, hard to get out." 

Edited by: Daniel Tovrov


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