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Article: Golden time for one ETF
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- October 9, 2009
- Author:
CopyrightCopyright 2009 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Related news item No. 1: The price of gold jumped to an all-time
high for a third consecutive day yesterday.
Related news item No. 2: State Street Corp.'s gold exchange
traded fund climbed to become the world's second-largest ETF by the
end of September.
The roaring market for gold futures, which would have cost you
$1,062.70 per ounce by the end of yesterday, is driving the value of
the SPDR Gold Trust to new highs as well. The metal's appreciation,
along with increased investor demand that results in additional
shares, has pushed the value of the fund to $37.1 billion, as of
yesterday.
State Street may be a distant second to Barclays Global Investors
in the overall market in exchange ...