回顾历史，20年前GLD ETF的推出颠覆了大宗商品所有权的传统模式。自那时起，随着黄金需求的激增，黄金投资已从珠宝转向金条和ETF。米林-斯坦利将这一转变描述为大宗商品投资格局以及整个投资组合管理的“巨大变化”。Twenty years later, George Milling-Stanley, the founder of the first gold tracking ETF, still holds an optimistic view on gold.
According to Zhitong Finance APP, twenty years later, George Milling-Stanley, the founder of the first gold tracking ETF, still maintains an optimistic outlook on gold, believing that the demand from central banks and individual investors in emerging markets will drive up the prices of precious metals.
In an interview this week, George Milling-Stanley pointed out that he is optimistic about the gold market prospects for the remainder of this year and next year. As the chief gold strategist at State Street, he emphasized that the demand from central banks and individual investors in emerging markets like India and China is the main driving force behind the rise in precious metal prices. Although gold futures experienced a pullback after the election, and the SPDR Gold Stocks ETF (GLD) has not broken its record this year, Milling-Stanley believes that precious metals and GLD ETF are gradually recovering lost ground.
Looking back at history, the launch of the GLD ETF twenty years ago disrupted the traditional model of commodity ownership. Since then, with a surge in gold demand, gold investment has shifted from jewelry to bullion and ETFs. Milling-Stanley describes this shift as a "huge change" in the landscape of commodity investment and overall portfolio management.
Todd Sohn, ETF and technical strategist at Strategas, also noted that the broad investment channels of ETFs have attracted more investors into the gold market, with GLD allowing investors to add content beyond stocks and fixed income instruments to their portfolios for diversification.
Since its establishment, GLD has risen by 451%, and it increased by 29% in 2024. This performance further demonstrates the appeal of gold as an important component in a portfolio.
