South African investors favour gold ETFs over gold stocks

Seeking liquid access to gold

The search for a cost-effective and liquid means of accessing gold is driving South African investors to favour exchange-traded funds (ETFs) over gold stocks, industry participants say.

“Investors are attracted by the fact that gold performs strongly in more extreme scenarios with high inflation, a weak US dollar and elevated financial stress,” says Carl Isernhinke, chief investment officer at Sasfin Bank in Johannesburg. “Gold performs well even during deflation, where very high levels of finan

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