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Gold ETF (SGOL) Hits New 52-Week High
For investors seeking momentum, abrdn Physical Gold Shares ETF (SGOL - Free Report) is probably on the radar. The fund just hit a 52-week high and has moved up 38.6% from its 52-week low of $20.55 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:
SGOL in Focus
abrdn Physical Gold Shares ETF tracks the price of gold bullion. The Trust holds allocated physical gold bullion bars stored in secure vaults in London. It charges 17 bps in annual fees per year (see: all the Precious Metals ETFs here).
Why the Move
Gold has been an area to watch lately, given the surge in the metal price. The bullion rallied to $3,000 for the first time amid the ongoing trade tariff disputes and recessionary fears, which spurred demand for the yellow metal as a safe-haven investment option. Additionally, the resurge bets, stating that the Fed will cut rates more than expected this year, have fueled the gold price.
More Gains Ahead?
SGOL has a weighted alpha of 38.37 and a 20-day volatility of 14.84%, which show that there is still some promise for risk-aggressive investors who want to ride on this surging ETF.