Bearish Gold ETF Fund Signal? Gold Slips In Public Eye (GLD, IAU, PHYS, DZZ)
Christian Magoon: In what appears to be a bearish signal for gold ETF fund investors, a recent survey of Americans shows the conviction level in gold as the best long term investment has slipped.
Gallup recently completed the poll by asking Americans “Which of the following do you think is the best long- term investment: bonds, real estate, savings accounts/CDs, stocks/mutual funds or gold?” Gold placed number one as it had eight months ago for the last survey. However the latest survey saw an 18% drop in that conviction level among respondents.
What area picked up gold’s lost rate of conviction? Savings accounts/CDs and stocks/mutual funds. This is a trend in gold sentiment which gold ETF fund investors should monitor.
Related Tickers: SPDR Gold Trust (NYSEARCA:GLD), iShares Gold Trust (NYSEARCA:IAU), Sprott Physical Gold Trust (NYSEARCA:PHYS), PowerShares DB Gold Double Short ETN (NYSEARCA:DZZ).
Christian Magoon is Publisher of GoldETFs.biz and IndiaETFs.com. He is also CEO of Magoon Capital, a strategic consultant firm to asset managers. Christian Magoon is an ETF insider, having launched over 40 ETFs in the United States to date. A widely recognized thought leader on finance and market issues, Christian regularly contributes to many financial media outlets. Prior to forming Magoon Capital in 2010, Christian was President of Claymore Securities (now Guggenheim Investments), where he built one of the fastest growing and most innovative ETF businesses in the country, gathering more than $3 billion in AUM in three years. He launched more than 40 ETFs, introducing many “firsts” to the U.S. market, including the first Frontier Markets, Sector Rotation, Solar Energy, Timber, BRIC and suite of China focused ETFs. Christian consistently provides his industry insights and knowledge as a commentator in the U.S. media speaking publicly on macro investment issues and ETF related topics. In 2008, he was named by Institutional Investor News as one of the five people to watch in the U.S. ETF marketplace. In 2011, Financial Planning magazine dubbed Christian an “ETF Pioneer.”