Gold ETFs are gaining momentum as lower yields, strong central bank demand and renewed ETF inflows bolster the precious metal's outlook.
Gold's 2025 monster run looks like a distant memory. The SPDR Gold Shares (NYSEARCA:GLD) is down 5.59% year-to-date through August 4, and holders are paying 0.40% per year to sit on bullion that pays them nothing.
David Einhorn's Greenlight Capital trimmed its stake in the SPDR Gold Trust (NYSEARCA:GLD) to 99,611 shares in the first quarter of 2026, while Daniel Loeb's Third Point opened a brand-new position of 95,000 shares in the very same quarter, both disclosures landing in 13Fs filed roughly 45 days after quarter-end.
Gold's second quarter of 2026 was ugly enough to make anyone question the trade.
Holders of the SPDR Gold Trust (NYSEARCA:GLD) came into 2026 expecting the ETF to keep doing what it has done for two decades: track the spot price of physical gold, quietly, in one ticker.
Historically investors have bought physical commodity ETFs to gain direct exposure to the spot price of real assets. These funds provide a straightforward way to hedge against inflation and market volatility without the burden of physically storing the assets or the structural yield drag associated with futures contracts.
Amid the 7.8% Gold sell-off year-to-date (YTD), the largest gold ETF (exchange-traded fund) in the United States, SPDR Gold Shares (NYSE Arca: GLD), has recorded over $14 billion in cash outflows since March 1, 2026.
Gold's proxy in the equity market, SPDR Gold Shares (NYSEARCA:GLD), has returned 22.27% over the past twelve months, climbing from $309.25 on July 2, 2025 to $378.13 on July 2, 2026.
Gold regains momentum as cooling labor markets ease rate fears, putting gold ETFs back in focus.
History says it is coming. A 30% drawdown is part of the contract you signed when you bought stocks.
The current state of global economics since the 1944 Bretton Woods agreement operates on certain presumptions regarding gold, oil, interest rates, the perceived strength of the US dollar, and the geopolitical landscape.
Gold pays no dividend. It throws off no interest.