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For investors seeking momentum, abrdn Physical Precious Metals Basket Shares ETF (GLTR - Free Report) is probably on the radar. The fund just hit a 52-week high and has moved up 38.7% from its 52-week low of $100.95 per share. 

Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:

GLTR in Focus
 

abrdn Physical Precious Metals Basket Shares ETF seeks to reflect the performance of the prices of physical gold, silver, platinum, and palladium, in the proportion held by the Trust, less the Trust's expenses. It has an expense ratio of 0.60%.

Why the Move?
 

The precious metal space has been an area to watch lately, given the surge in the metal’s prices. Gold is trading at record highs, driven by inflation concerns, central bank accumulation, and geopolitical stress. Silver has climbed to 13-year highs, benefiting from its dual role as both an investment asset and an industrial metal. Meanwhile, platinum is at a four-year high driven by strong industrial demand, supply constraints, and clean energy adoption. Palladium is also on the rise, buoyed by tight supplies and resilient industrial demand

More Gains Ahead? 
 

Currently, GLTR has a Zacks ETF Rank #3 (Hold), with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, a weighted alpha of 38.16 and a 20-day volatility of 16.83% show that there is still some promise for risk-aggressive investors who want to ride on this surging ETF.

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