Gold notches another record, Global X says ‘prices may be sustainable’

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Gold notches another record, Global X says ‘prices may be sustainable’

seekingalpha09-13

Gold (XAUUSD:CUR) topped yet another all-time trading high on Thursday as the precious metal tagged $2,583.60/oz and Global X, a leader in the exchange-traded fund market, came out and argued that “...

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The investment firm went on to add: “In our view, gold miners could be particularly well positioned to capitalize on elevated bullion prices, based on what we see as attractive valuations and the potential for increased M&A activity.” The physical market demand has remained robust, Global X said, which has supported gold prices as major central banks such as the People’s Bank of China and the National Bank of Poland have been large buyers of the bullion. At the same time, the ETF provider went on to say that from the financial market's perspective, gold’s historical inverse relationship with real interest rates has also provided insight into the precious metal's rally. For investors that are further looking to track the price action of the gold market, they can look towards exchange-traded funds as a proxy to the underlying commodity. 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