Gold ETFs too gain popularity

January 30, 2009

Commodity Online
NEW DELHI: Even as gold emerged as the best bet for investors, the demand for gold exchange traded funds (ETFs) has also picked up momentum.

According to experts, investors have shown tremendous interest in the commodity.

In general, gold moves in the opposite direction of US dollar, and will move in a different direction than that of the general stock market.

That is the reason gold is used as a hedge against a loss in the buying power of paper currencies.

Gold prices took investors for a ride in 2008, with highs in March at $1,000 an ounce and then falling to end the year at $884.30 per ounce.

The reason for the rise in demand for gold ETFs is that it is a convenient and easy to access tool that gives instant portfolio exposure to the metal, particularly because investors can gain direct access to gold without worrying about storing the metal.

Gold had touched $1,000 in March 2008 but climbed down after that. However, analysts said the bull market is still there as far as gold is concerned.

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