Gold ETFs, after tremendous performance over the several months are showing signs of pulling back a bit. These funds have seen huge cash inflows this year as investors flocked to safe haven investments amidst increasing worries about upcoming inflation resulting from massive stimulus plans. The six gold funds monitored by Reuters declined by 3% in July, with GLD holdings declining by 4% and two gold ETFs offered by ETF Securities (GBS and PHAU) declining by 3%.
Despite the soft month of July, gold ETFs have posted stellar results to date in 2009. According to data from the National Stock Exchange, GLD saw net cash inflows of $142 million through June, while iShares IAU and PowerShares DGL have seen inflows of $87 million and $39 million, respectively. Although improved economic prospects both in the U.S. and around the world have slowed cash inflows into these funds, gold ETF holdings remain near all time highs.
Disclosure: No positions at time of writing.
Are you enjoying ETF Database?
Get more articles like this one via our free daily e-mail newsletter or RSS feed.
Related Stories from ETF Database
- The Definitive Gold ETF Guide: Gold Bullion ETFs 101 (October 29, 2009)
- ETF Plays For $3,000 Gold (September 17, 2009)
- Why You Need A Swiss Gold ETF (September 10, 2009)
- Gold ETFs: More Popular Than Ever (August 27, 2009)
- July ETF Report: Winners And Losers (August 11, 2009)
Comments on this entry are closed.