Vivian Lewis Blog | New Exchange Traded Funds | Talkmarkets
Editor and founder of Global-Investing.com
Contributor's Links: Global Investing

Vivian Lewis is editor and founder of Global-Investing.com, the daily blog newsletter for Americans and others seeking to internationalize their portfolios. She brings unique experience and competence to the business of picking foreign stocks.

After graduating from Harvard magna cum ... more

New Exchange Traded Funds

Date: Tuesday, June 26, 2018 2:17 PM EDT

The World Gold Council plans to create two new exchange-traded funds in cooperation with State St. Bank of Boston. One will be called the Goldmini, ticker symbol expected to be GLDM, which will have the lowest fees for any gold fund out there. Each ETF will be 1/10th the value of our existing SPDR Gold share, GLD.

The second will be called GLDW and will hold gold against foreign currencies rather than the US dollar, in part because a strong dollar hurts the price of the yellow metal. The currencies in which GLDW can buy gold are: euros, yen, pounds sterling, Canadian dolalrs, Swiss france, and Swedis Krona. The likely impact of these new ETFs on the price of gold will impact our GLD so we don't need to buy the new ones. The World Gold Council is a supporter of gold as an investment funded by the mining industry. I own STT shares, a developer of ETFs, which is how I found out about this.

Disclaimer: This and other personal blog posts are not reviewed, monitored or endorsed by TalkMarkets. The content is solely the view of the author and TalkMarkets is not responsible for the content of this post in any way. Our curated content which is handpicked by our editorial team may be viewed here.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.