The SPDR Gold Trust (NYSE Arca: GLD) ETF is the world's largest gold-backed exchange-traded fund. While the GLD ETF started the year strong, it's now down just 0.07%, trading around $113.
But the GLD ETF is a good way for investors to collect some extra gold profits without the hassle of physical gold buying.
And with gold prices forecast to rise over the long term, the GLD ETF will rise as well.
Here's a look at the benefits of buying the GLD ETF…
GLD ETF to Climb in 2015
Gold prices climbed 1.2% last week. After spiking to $1,193 an ounce, gold ended Friday's session up $6.70, or 0.6%, to $1,188.90.
Yet amid one of the strongest dollar rallies in a decade, and concerns of slowing growth in China, yellow metal prices faltered. Gold's year-to-date gains now sit at 0.44%.
Money Morning Resource Specialist Peter Krauth, however, sees brighter days ahead for gold prices.
He recently detailed a number of compelling reasons why. Krauth projects gold will end Q2 in the $1,250 to $1,270 range. That would be some nice upside from gold's current $1,188.90.
Gold has recently fallen off some people's radar. But as soon as something significant happens, and something significant somewhere is always about to happen, gold prices will take off.
That's why it's always wise to hold some gold – and the GLD ETF is an indirect way to "own" part of the physical metal…
Why Buy the GLD ETF
According to ETF.com, there are currently 38 ETFs that invest in gold, up from 16 in 2010. Gold ETFs are an increasingly popular choice for investors.