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For investors seeking momentum, GraniteShares Gold Trust BAR is probably on the radar. The fund just hit a 52-week high and has moved up 41% from its 52-week low of $21.33 per share.
Are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
BAR in Focus
GraniteShares Gold Trust is designed to track the performance of the price of gold. The Trust holds only LBMA good delivery bars stored in a vault domiciled in London, United Kingdom. BAR charges investors 17 bps in annual fees (see: all the Precious Metals ETFs here).
Why the Move?
Gold has been an area to watch lately, given that the metal has been on an unstoppable rally, buoyed by strong safe-haven demand amid rising trade tariffs and escalating geopolitical tensions. The bullion reached a record high four times in the last five days, breaching the 3,050 level. The Fed’s signal of potential rate cuts this year added further shine to the yellow metal, pushing gold ETFs higher.
More Gains Ahead?
Currently, BAR has a Zacks ETF Rank #3 (Hold). It is hard to get a handle on its future returns one way or the other.
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This article originally published on Zacks Investment Research (zacks.com).