Gold ETF Sees 2.8% Rally and $180 Billion Asset Record
Gold ETF rallied 2.8% after Washington unveiled a 15-point Middle East peace plan, reducing its post-Feb 28 drop to 13%. Assets under management hit a record $180 billion while rival crypto ETFs from Vanguard have slumped, potentially diverting flows back into bullion.
1. Price Surge After US 15-Point Peace Plan
The Gold ETF climbed as much as 2.8% on the second day of gains after Washington unveiled a 15-point proposal aimed at ending the Middle East conflict, trimming its decline since Feb. 28 from over 15% to roughly 13%.
2. Record $180B Assets Under Management
Assets under management reached a record $180 billion as investors eyed bullion’s pullback as a buying opportunity, supported by potential central bank gold purchases and swap transactions for foreign currency funding.
3. Crypto ETF Competition
New crypto ETFs from a major brokerage have tumbled sharply, possibly redirecting some investor demand toward the stability of the Gold ETF compared with volatile digital asset products.