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Gold ETF (SGOL) Hits New 52-Week High

For investors seeking momentum, Aberdeen Standard Physical Swiss Gold Shares ETF SGOL is probably on radar. The fund just hit a 52-week high, and is up 35.7% from its 52-week low price of $13.52 per share.

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

SGOL in Focus

This product seeks to provide investors with a convenient and cost-efficient way to invest in physical gold. It charges 17 bps in fees per year (see: all the Precious Metal ETFs here).

Why the Move?

The precious metals space, especially gold, has been an area to watch lately given that gold topped $1,900 per ounce for the first time ever. Concerns about further pandemic-related lockdowns, the decline in U.S. dollar and rise in U.S-China tensions once again prompted a flight to safe-haven assets. Notably, gold is considered a great store of value and hedge against market turmoil.

More Gains Ahead?

Currently, SGOL 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, it seems that the fund might remain strong given a higher weighted alpha of 37.60 and low 20-day volatility of 8.81%. As a result, there is definitely still some promise for investors, who want to ride on this surging ETF a little further.

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Aberdeen Standard Physical Gold Shares ETF (SGOL): ETF Research Reports
 
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