Gold prices have been on a steady rise, leading to a gold rally in 2024 that has pushed the SPDR Gold Shares (GLD) ahead of the SPDR S&P 500 ETF (SPY). This surge in gold prices has caught the attention of investors, as GLD has outperformed the broader market index.
Investors are turning to gold as a safe haven asset amidst economic uncertainty and market volatility. The precious metal has traditionally been seen as a hedge against inflation and a store of value during times of market turbulence.
The rise in gold prices has also been fueled by global economic concerns, geopolitical tensions, and accommodative monetary policies by central banks around the world. As a result, GLD has seen increased demand from investors looking to diversify their portfolios and protect their wealth.
While the SPY has historically been a popular choice for investors looking to track the performance of the S&P 500 index, the recent gold rally has positioned GLD as a strong contender for investors seeking exposure to the precious metal. As the gold rally continues, it will be interesting to see how GLD performs in comparison to other traditional investment options.