Gold beats STI, Hong Kong-listed tech to be top-traded ETF on SGX in 2024
The precious metal continues to shine as investors look to diversify equity and bond portfolios amid geopolitical tensions and market volatility, says analyst
RECORD-HIGH gold prices in 2024 have fuelled investment appetite for physically backed gold exchange-traded funds (ETFs) in Singapore.
SPDR Gold Shares, the only gold ETF on the Singapore Exchange (SGX), was the top-traded ETF on the local bourse last year in terms of the average daily trading value. It is also the largest bullion-backed ETF globally.
According to SGX data, the counter saw some S$3.1 million changing hands on average each day, overtaking the Lion-OCBC Securities Hang Seng Tech ETF and SPDR Straits Times Index (STI) ETF.
Copyright SPH Media. All rights reserved.
Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.
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