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Betting on Gold Using a Futures-Based Gold ETF

Authors: Matos, Pedro

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In an environment of high macroeconomic uncertainty in the fall of 2012, Tom Michelson was looking at his next trading opportunity. Michelson wanted to build a position in gold with a trading horizon of around a year and was wondering how he should go about investing in gold. Gold futures-based exchange-traded funds (ETFs) seemed like a good alternative, but he needed to understand better how gold futures worked. He was aware that futures-based ETFs for other commodities such as oil and gas had disappointing performances in recent years due to movements in the futures curves. Would a gold futures-based ETF be a good choice to profit from the price appreciation of gold?
Case Number: F-1690
Author: Matos, Pedro
Type: Case
Length: 20 pages.
Category: Understanding Cost Behaviors
Financial Accounting & Reporting
Industry: Banking/Finance/Insurance
Published: 04/22/13
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