Investors have piled into gold ETFs this year, flocking to the so-called safe-haven asset as the coronavirus pandemic rages on. Worldwide, hold...
A Wall Street quant chief breaks down why a COVID-19 vaccine is not the silver bullet investors have been hoping for - and warns another stock-market meltdown is likely
Gold has rallied this year, up more than 31% through Monday's close as the coronavirus pandemic whiplashed global markets and led to high uncertainty for the future. Those gains led to huge inflows for gold ETFs, according to the report. Going forward, a number of Wall Street analysts expect that the precious metal could surge further and hit new highs. Goldman Sachs thinks that gold could top $2,300, while RBC Capital Markets says there's a 40% chance that the commodity rallies to $3,000, Bloomberg reported.
Investors may choose ETFs over holding the actual metal as the funds allow them to trade the commodity without needing to take physical delivery of it, according to the report.
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