Surge in Gold and Silver ETF Yields
The continuous rise in international gold prices has led to a significant increase in returns for related Exchange Traded Funds (ETFs). Korea Investment Trust Management's ACE Gold Futures Leveraged (Synthetic H) ETF has risen by 26.22% over the past three months, while NH-Amundi Asset Management's HANARO Global Gold Mining Enterprises ETF increased by 15.75%. Samsung Asset Management's KODEX Gold Futures (H) ETF and Mirae Asset Global Investments' TIGER Gold Futures (H) ETF also saw increases of 13.37% and 13.07%, respectively. This rise is attributed to the U.S. Federal Reserve's interest rate cuts and the global trend of rate cuts, which have positively impacted gold prices. Goldman Sachs and JP Morgan forecast that gold prices could surpass $2,700 per ounce by early next year, and Bank of America suggests the possibility of reaching $3,000. However, experts advise caution regarding short-term volatility.
As gold prices rise, silver prices are also showing an upward trend. The KODEX Silver Futures (H) has risen by 7.62% this month, while leveraged Exchange Traded Notes (ETNs) such as Shinhan Leveraged Silver Futures ETN (H) and Samsung Leveraged Silver Futures ETN (H) have increased by 14.51% and 14.61%, respectively. This rise in silver prices is related to its various industrial applications, including solar panels and electronic components. Economic stimulus measures from both the U.S. and China have also played a role. The share prices of silver mining companies Pan American Silver and First Majestic Silver have risen by 10.59% and 16.99%, respectively. The 'HANARO Global Gold Mining Enterprises'* ETF, which mainly consists of global mining companies, has increased by 6.17% this month.
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