Gold now trades at $1,349 U.S. an ounce and silver at $17.36. Those prices are well below the 2011 highs for both metals, but above their 2015 lows.
Both metals have gained over the last couple of years due in part to fears that growing government deficits will lower the value of global currencies.
The same distrust of governments and their currencies is clearly one of the factors that has driven the mania for bitcoin and other cryptocurrencies—which is liable to end badly for many investors.
However, an improving U.S. economy and low unemployment led the U.S. Federal Reserve to raise interest rates three times in 2017. That dampens the risk of inflation and a falling U.S. dollar. Typically, both of those factors are needed to significantly boost demand for gold and silver.
Still, for investors who wish to hold precious metal stocks, these two ETFs invest in top-quality global miners.
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GLOBAL X SILVER MINERS ETF (New York symbol SIL; buy or sell through brokers; www.globalxfunds.com) tracks the Solactive Global Silver Miners Index.
That index began trading in April 2010 and includes 29 international firms that mine, refine or explore for silver. Its MER is 0.65%.
Canadian firms make up 44.4% of the fund’s holdings, ahead of Mexico (24.8%), the U.S. (14.7%), Russia (11.8% and Peru (5.7%). Its MER is 0.65%.
The ETF’s top holdings are Wheaton Precious Metals at 13.6%; Polymetal International, 12.8%; Fresnillo plc, 12.3%; Korea Zinc, 11.6%; Pan American Silver, 4.5%; Tahoe Resources, 4.5%; Coeur Mining, 4.2%; Hecla Mining, 3.9%; and Industrias Penoles, 3.8%.
Recommendation in Canadian Wealth Advisor: Global X Silver Miners ETF is a hold.
ETFs: Newmont and Barrick are the top two holdings for this ETF
ISHARES S&P/TSX GLOBAL GOLD INDEX ETF (Toronto symbol XGD; buy or sell through brokers; ca.ishares.com) aims to mirror the performance of the S&P/TSX Global Gold Index; it’s made up of 43 gold stocks from Canada and around the world. The ETF began trading on March 23, 2001. Its MER is 0.61%.
The fund’s top holdings include Newmont Mining, 13.9%; Barrick Gold, 11.7%; Franco-Nevada Corp., 10.2%; Goldcorp, 7.6%; Agnico-Eagle Mines, 7.4%; Randgold Resources (ADR), 6.3%; and Royal Gold, 3.9%.
Canadian companies comprise 66.2% of the fund’s assets, but it also holds miners in the U.S. (18.2%), South Africa (7.2%), the U.K (6.3%) and Peru (2.0%).
Recommendation in Canadian Wealth Advisor: iShares S&P/TSX Global Gold Index is a hold.
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