Guide to Gold ETF Investing

Central-bank buying, reserve diversification and geopolitical uncertainty could support gold ETFs despite higher interest rates.

Gold has been subdued in the year-to-date frame, with much of the selloff coming over the past six months.

Higher rates and a strong U. S. dollar have faded the yellow metal's allure.

Gold bullion ETF SPDR Gold Trust GLD is down about 10% over the past six months (as of Nov 4, 2026), while it is off about 7% so far this year.

Meanwhile, Invesco DB US Dollar Index Bullish Fund UUP has gained 5.2% in the past six-month frame and is up 7% year to date.

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Gold prices tend to move inversely to interest rates.

One of the biggest reasons why gold could remain resilient despite higher rates is central-bank demand.

They have increased gold purchases since 2022, when G7 nations froze Russian central bank assets following the invasion of Ukraine, per Goldman Sachs, as said in late August.

Gold's share of total official reserve assets rose to 27% at the end of 2025, while U. S. Treasuries fell to 22% from 25%, as mentioned in the Financial Post.

From Yahoo Finance