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.
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