Precious metals, namely gold and silver, are in the midst of epic rallies. On Monday, silver exchange-traded funds extended what are becoming meteoric rises while gold hit an all-time high.
On volume that was nearly double the daily average, the SPDR Gold Shares (NYSE:GLD), the world's largest bullion-backed ETF, jumped 2%. The VanEck Vectors Gold Miners ETF (NYSE:GDX) joined the party, too, gaining almost 5% on above-average turnover, extending its year-to-date gain to roughly 50%.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Indeed, these are exciting times for gold ETFs, an arena largely dominated by GLD and GDX. However, there are some other options for investors to consider here. Let's have a look at a few here.
GraniteShares Gold Trust (BAR)
In the U.S., the market for physically-backed gold ETFs is mostly dominated by the aforementioned GLD, but there are some admirable competitors. One of those is the GraniteShares Gold Trust (NYSE:BAR).
GLD is a fine choice for active traders that need tight spread, deep liquidity and a robust options market. For longer-term investors looking for cost savings, BAR and a couple of other names are the way to go. In fact, BAR, which turns three years old next month, touched of a gold ETF fee war when it debuted in August 2017.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
The fund charges 0.1749% per year, or $17.49 on a $10,000 investment, making it one of the least expensive funds in this category. That's meaningful as highlighted by BAR's $1.1 billion in assets under management. More importantly, the fund is up 27.73% year-to-date and hit an all-time high yesterday.
U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU)
Much GLD looming large in the gold-backed ETF arena, the aforementioned GDX does the same among miners funds, but the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE:GOAU) is a credible idea to consider.
GOAU, which hit an all-time high Monday, devotes 30% of its weight to the three largest gold royalty companies. The remaining 70% of the ETF's weight is allocated to 25 miners scored by momentum in revenue, free cash flow and high-gross margins on a per-share.
GOAU hit $100 million in assets early this month, about a month after celebrating its third birthday.
VanEck Merk Gold Trust (OUNZ)
The VanEck Merk Gold Trust (NYSE:OUNZ) recently had its fee clipped to 0.25% from 0.40%. OUNZ is one of the niftier ideas in the gold ETF space because when an investor sells shares of the ETF, he or she can take physical delivery of gold, a trait not offered by rival funds in this category.
OUNZ gained almost 2% yesterday on volume that was nearly triple the daily average on its way to a record high.