Trends in the Global Gold and Silver ETF Market
Mirae Asset Global Investments' subsidiary, GlobalX, has launched a new gold exchange-traded fund (ETF) on the Tokyo Stock Exchange. The ETF is backed by physical gold and provides an option to track a hedging index to mitigate currency fluctuation risks. As an asset management company specializing in ETFs, GlobalX is a subsidiary of the Daiwa Securities Group and has been firmly establishing its presence in Japan since its foundation in 2019. As interest in safe assets such as gold rises, the increase in net assets of Korea's ACE KRX Gold Physical ETF reflects this trend.
GlobalX has also reported a continuous influx of funds into its silver ETFs. The silver ETF listed on the Australian Securities Exchange has recorded a net inflow of $193 million since the beginning of the year, a significant increase compared to the past two years. The relative strength of gold prices, coupled with supply shortages and increased industrial demand, supports the rise in silver prices. Gold ETFs also showed a positive trend with a net inflow of $660 million this year.
The United States Federal Reserve's anticipated interest rate cuts and inflow of investment capital are expected to boost gold prices in the second half of the year. KB Securities has set its half-year gold price target at $3,700 and next year's target at the $4,000 level, indicating that heightened interest rate cut expectations create a favorable environment for gold price appreciation.
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