Physical Gold ETF (AAAU) at a 52-Week High
For investors looking for momentum, Goldman Sachs Physical Gold ETF AAAU is probably a suitable pick. The fund just hit a 52-week high and is up 23.9% from its 52-week low price of $16.65/share.
Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
AAAU in Focus
This ETF seeks to reflect the performance of the price of gold less the expenses of the Trust's operations. It has AUM of $337.73 million and charges 18 basis points in annual fees.
Why the Move?
Concerns about further pandemic-related lockdowns due to the aggravating coronavirus outbreak have once again prompted a flight to safe-haven assets. Moreover, the decline in U.S. dollar and Fed’s continued dovish stance are supporting the upside in the yellow metal. Notably, gold is considered a great store of value and hedge against market turmoil. This is making funds like AAAU an attractive investment option.
More Gains Ahead?
The fund has a Zacks ETF Rank #3 (Hold). It seems like it might remain strong, which gives cues of further rally.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
GS-PHYS GOLD (AAAU): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
