Gold ETFs: Where Do They Go From Here?

Despite global turmoil and continued concern over budget deficits in countries around the world, equity markets soared in July posting double digit gains on the back of solid earnings and easing fears over the situation in Europe. With equity markets jumping again to start August, gold has experienced a bit of a sell of as of late as traders have embraced risky stocks and even bonds due to near-term deflation fears. The yellow metal has seen its value fall from a record of $1,271/oz. down almost $100 an oz. before leveling off at its current level of $1,186. This rapid decline has left many traders wondering if we have seen the top in the gold market and that prices will tumble below the key $1,000 level or if this is only a breather on gold’s march upward to $1,500 an ounce and beyond. Where Does Gold Go From Here? It is hard to think of a time in American [...] Click here to read the original article on ETFdb.com. Related Stories: The Definitive Gold ETF Guide: Gold Bullion ETFs 101 ETF Plays For $3,000 Gold Sprott Launches New “Canada Gold ETF” (PHYS)