Insights

2024 Gold ETF Impact Study

What’s driving gold demand? Are allocation trends changing? Tap into the latest gold investor study from State Street Global Advisors to find out.

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Investors who don’t hold gold may be at a disadvantage. Why? Because 84% of high net worth (HNW) gold ETF investors say gold ETFs have improved the overall performance of their investment portfolios.¹

We surveyed nearly 300 advisors and more than 3,000 investors on gold familiarity, product preferences, and the overall value gold has in a portfolio. What did they say? Find out.

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Findings from Our 2024 Gold ETF Impact Study

Gold Reigns: Most Advisors Surveyed Are Gold Recommenders

The majority of advisors surveyed (76%) recommend that clients have gold in their portfolios always (41%) or often (35%). And most (83%) suggest a portfolio allocation of 10% or more.

What percentage of advisors are likely to recommend that clients increase their gold allocation over the next six to 12 months?

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A Balancing Act: Some Weigh Gold as Tactical and Strategic

More than half of advisors surveyed (54%) view gold as both a short-term tactical and long-term strategic investment — showcasing the depth gold can play in portfolios.

How do advisors who always recommend gold to clients view gold as an investment?

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Gold ETFs: Advisors’ Gold Standard

When recommending a gold investment to clients, advisors surveyed predominantly suggest gold ETFs (70%), followed by gold bullion (53%).

What do advisors and their clients say about gold ETFs specifically? What type of gold ETF do advisors recommend most often?

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Advisors Play Key Role in Unlocking Gold Investment

Among advised HNW investors, many of those who hold gold say their advisor plays a critical role in that investment by:

Discussing gold with them (91%)
Explaining the benefits of gold (88%)
Informing them about the different ways they can invest in gold (86%)
Recommending gold for the long term (82%)

And 90% of HNW gold ETF investors said their advisors recommended a gold ETF because it was the “best way to invest in gold” — highlighting the significant role advisors can play in overall gold investment education and allocation-related decision-making.

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Did You Know?

Lack of knowledge about gold may hold investors back from investing in the asset.

When we asked investors why they don’t own gold, “I don’t know enough about the ways I can invest in gold” topped the list (#1 among emerging affluent investors; #2 among HNW investors). Have you talked with your clients about gold? Are they curious about gold’s role in a portfolio? No matter what questions clients have, our resources can help you answer them with confidence.

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Crypto: Good as Gold?

Our study revealed that surveyed investors believed gold and crypto are complementary asset classes, not competitive. In fact, among investors who said hold both gold and crypto, each plays a distinct role in their portfolio:

Gold is most often used by surveyed investors as a safe haven* or hedge for market corrections and recessions, market volatility, and inflation.
Crypto is most often used by surveyed investors for its short-term growth potential or exposure to technological innovation.

Both gold and crypto are used by surveyed investors for their long-term growth potential.

When it comes to gold and crypto, do financial advisors share their clients’ views?

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What Else Is Covered?

Our 2024 Gold ETF Impact Study reveals what’s on the minds of US gold investors — from emerging affluent and HNW investors to financial advisors. And it’s jam-packed with insights like:

Trends in current and planned portfolio allocations
How advisors influence a gold investment
The role gold ETFs play in portfolios
Decision criteria when selecting a gold ETF
Perceived benefits of gold
And much more!

Don’t delay — dig into the study findings today.

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Invest in SPDR Gold ETFs

About the Study

The State Street Global Advisors Research Center, in partnership with field partners A2Bplanning and Prodege, conducted a US online survey in July and August 2024 among a random sample of survey participants to assess the attitudes and behaviors around investing in gold and gold ETFs.

Data was collected from the following:

1,502 high net worth investors with $250K or more in investable assets

1,500 emerging affluent investors with $50K-$249K in investable assets

299 financial advisors with $50M or more in assets under management

This survey further builds on research conducted with individual investors in March and April 2023. For the 2024 Gold ETF Impact Study, State Street Global Advisors Research Center expanded the scope to include emerging affluent and financial professionals.

Footnotes

Disclosures

Important Risk Information

The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA’s express written consent.

All information is from SSGA unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor.

This communication is not intended to be an investment recommendation or investment advice and should not be relied upon as such.

Investing involves risk, and you could lose money on an investment in each of SPDR® Gold Shares Trust (“GLD®” or “GLD”) and SPDR® Gold MiniShares® Trust (“GLDM®” or “GLDM”), a series of the World Gold Trust (together, the “Funds”).

Commodities and commodity-index linked securities may be affected by changes in overall market movements, changes in interest rates, and other factors such as weather, disease, embargoes, or political and regulatory developments, as well as trading activity of speculators and arbitrageurs in the underlying commodities.

Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.

Diversification does not ensure a profit or guarantee against loss.

Investing in commodities entails significant risk and is not appropriate for all investors.

Important Information Relating to GLD® and GLDM®:

GLD and the World Gold Trust have each filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for GLD and GLDM, respectively. Before you invest, you should read the prospectus in the registration statement and other documents each Fund has filed with the SEC for more complete information about each Fund and these offerings. Please see each Fund’s prospectus for a detailed discussion of the risks of investing in each Fund’s shares. The GLD prospectus is available by clicking here, and the GLDM prospectus is available by clicking here. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov or by visiting spdrgoldshares.com. Alternatively, the Funds or any authorized participant will arrange to send you the prospectus if you request it by calling 866.320.4053.

None of the Funds is an investment company registered under the Investment Company Act of 1940 (the “1940 Act”). As a result, shareholders of each Fund do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act. GLD and GLDM are not subject to regulation under the Commodity Exchange Act of 1936 (the “CEA”). As a result, shareholders of each of GLD and GLDM do not have the protections afforded by the CEA.

Shares of each Fund trade like stocks, are subject to investment risk and will fluctuate in market value.

The values of GLD shares and GLDM shares relate directly to the value of the gold held by each Fund (less its expenses), respectively. Fluctuations in the price of gold could materially and adversely affect an investment in the shares. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them.

None of the Funds generate any income, and as each Fund regularly sells gold to pay for its ongoing expenses, the amount of gold represented by each Fund share will decline over time to that extent.

The World Gold Council name and logo are a registered trademark and used with the permission of the World Gold Council pursuant to a license agreement. The World Gold Council is not responsible for the content of, and is not liable for the use of or reliance on, this material. World Gold Council is an affiliate of the Sponsor of each of GLD and GLDM.

MiniShares® is a registered trademark of WGC USA Asset Management Company, LLC used with the permission of WGC USA Asset Management Company, LLC. GLD® and GLDM® are registered trademarks of World Gold Trust Services, LLC used with the permission of World Gold Trust Services, LLC.

For more information, please contact the Marketing Agent for GLD and GLDM: State Street Global Advisors Funds Distributors, LLC, One Iron Street, Boston, MA, 02210; T: +1 866 320 4053 spdrgoldshares.com