Gold and silver exchange-traded funds gained on Monday as t⭕he underlying metals surged to new highs🃏.

Prices for gold bullion (GOLD) topped $2,450 for the 澳洲幸运5官方开奖结果体彩网:first time on Monday, while silver (SILVER) was trading at its 澳洲幸运5官方开奖结果体彩网:highest level in 11 years, around $32

Precious metals have been boosted by geopolitical tensions and weakness in the U.S. dollar after benign inflation data in the U.S. lastꦕ week boosted hopes that the Federal Reserve could be in a position to consider cutti🌳ng its benchmark interest rate.

That's good news for exchange-traded funds that hold gold and silver.

All The Glitters Includes Gold ETFs

SPDR Gold Shares ETF (GLD)—the oldest and largest ETF backed by physical gold, with $64.8 billion in assets at the end of last week—rose 0.4% Monday and has gained 17.5% so far this year. Shares in another popular gold ETF, the iShares Gold Trust (IAU), also gained 0.4% Monday and are u𒁃p 17.6% in 2024.

In recent months, gold prices have b🎃een rising, propped up to a large extent by central bank purchases, especially from China.

Early in the year, investors were pulling money out of gold ETFs, according to analysis from the World Gold Council. However, the recent rally in gold prices may have helped turn the tide in favor of the yellow metal, with North American gold ETFs recording net inflows in March and April after massive outflows in the first two months of the year.

Silver ETFs Sparkle

Silver ETFs were also higher after an increase i🦋n the price of the underlying preciou💝s metal.

The iShares Physical Silver Trust (SLV), with $12.4 billion in assets, gained 0.7% on the day and are up 33% since the start of the year as retail investors look for diversification.