April is shining bright for ASX gold exchange-traded funds (ETFs).
As I pen this, three ASX gold ETFs are cracking into new all-time highs.
This comes as the yellow metal itself again launches into record territory.
There are some risks involved with any investment. However, investors opting to buy an ETF won't need to buy and safely store physical bullion themselves.
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Three ASX gold ETFs shining bright
The three gold ETFs in question all offer ASX investors exposure to the performance of gold by buying shares on the stock market.
Perth Mint Gold (ASX: PMGOLD) is up 0.9% today, trading for an all-time high of $35.00 a share.
According to Perth Mint's website, "Gold offers investors protection against market volatility, inflation and geopolitical uncertainty."
Annual management fees run at 0.15%. And PMGOLD has returned an impressive annualised 10.9% gain over the past five years, handily outpacing inflation.
The second ETF smashing all-time highs today is ETFS Metal Securities Australia Limited (ASX: GOLD).
The ETF is also up 0.9% today, hitting a record $32.39 a share.
Management fees are 0.4%, and it's backed by physical gold. The company notes that, "Each physical bar is segregated, individually identified and allocated."
GOLD has returned an annualised 12.7% over five years.
Also riding the soaring gold price to new highs is Betashares Gold Bullion ETF (ASX: QAU). Shares are up 1.3% at the time of writing at $19.09, having earlier peaked at $19.21.
Also backed by physical gold, the ASX ETF is hedged for currency movements in the AUD/USD exchange rate.
Management fees are 0.59%. And the ETF has returned an annualised 6.4% over five years.
What's happening with the gold price?
The ASX gold ETFs and ASX gold miners are surging on the back of booming demand for gold.
The yellow metal is currently trading for US$2,283 per troy ounce, having touched US$2,287 per ounce in earlier trade today.
Either level tops Monday's previous record high gold price of US$2,266 per ounce. And it sees bullion up more than 25% since the recent lows of US$1,820 per ounce on 5 October.
Gold has been supported on numerous fronts.
First, there's the looming prospect of interest rate cuts from the United States Federal Reserve, the RBA and other leading global central banks. Gold, which pays no yield itself, generally performs better in low or falling interest rate environments.
Gold, and ASX gold ETFs, are also benefiting from ongoing strong central bank demand, which remains near record levels in 2024.
And bullion's haven status has come to the fore amid ongoing geopolitical tensions in the Middle East and Eastern Europe.
The combined factors could see a significant further upside in the gold price.
Last month, JPMorgan Chase & Co forecast that bullion could trade for US$2,500 per ounce.
