Analysis of Gold Spot ETF Net Asset Increase
Despite declining domestic gold spot prices, the net assets of ACE KRX Gold Spot and TIGER KRX Gold Spot ETFs rose to 3.2506 trillion won as of October 29, marking a 12.26% increase. This surge is primarily attributed to a strong buying trend among individual investors. Additionally, the shrinkage of the 'Kimchi Premium' has further enhanced the attractiveness of gold ETFs in the market.
Meanwhile, international gold prices have returned to a downward trend after a surge earlier this month. December gold futures closed at $3,979.21 per troy ounce, down 8.7% from their peak on the 20th. The easing of US-China tensions and expectations of a Federal Reserve rate cut have been primary contributors to this decline. The international financial market has seen increased investor losses as a result, with Wall Street analysts providing mixed forecasts for the future; some predict gold will drop to $3,500 per ounce by the end of next year, while JP Morgan anticipates a rebound to $5,055 per ounce.
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"Gold Price Drop? It Doesn't Matter" ACE and TIGER Physical Gold ETFs Grew Instead [ETF Decode] - Smart Today|Smart Today=Reporter Kim Na-yeon| Despite a sharp drop in domestic physical gold prices due to declining gold prices and the collapse of the kimchi premium, the net assets of gold physical ETFs have actually increased. The total net assets of the two domestically managed physical gold ETFs, ACE KRX Gold and TIGER KRX Gold, amount to 3.2506 trillion won (as of October 29).
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Has the 'Gold Bubble' Burst? Domestic Gold ETFs Plummet as Kimchi Premium Fades - Chosun IlboHas the gold bubble burst? Domestic Gold ETFs are plummeting as the kimchi premium fades. Gold prices, which surged earlier this month, have returned to a downward trend within a month. There is also criticism from investors who invested in gold-related products driven by FOMO (Fear of Missing Out), fearing they would be left out.