GDMN ETF

The WisdomTree Efficient Gold Plus Gold Miners Strategy Fund offers leveraged exposure to the price of gold and the returns of gold miners, making it WisdomTree's top-performing ETF so far in 2024, as gold and mining equities have rallied. A weaker U.S. dollar, falling bond yields and rising central bank purchases are driving gold prices higher, benefiting gold miners, which often act as an accentuated play on the metal's price action. With operational costs for gold miners set to decrease and margins expected to expand, investors may find GDMN a compelling option for capturing both gold's appreciation and miners' improving profitability.

With some favorable economic data and intensifying speculation that the Federal Reserve will cut interest rates in September, gold prices rose last Friday.

Some spot gold exchange traded funds have outperformed S&P 500-tracking funds by as much as 1,000 basis points year-to-date, showing a preference for the precious metal.

Gold is one of the top-performing assets in 2024, with concerns that inflation may persist longer than expected. The biggest ETF focused on physical gold has seen a nearly 14% increase in value so far this year.

Even without much assistance from the Federal Reserve in the form of interest rate cuts, gold is performing well to start 2024. The largest physically backed exchange traded fund in the category is up 5.65% year to date, and 12% over the past 12 months.

Somewhat overshadowed by bitcoin and stocks, gold is enjoying a solid start to 2024. In fact, the largest bullion-backed exchange traded fund is higher by 4.80% year to date.