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Gold ETFs Shrug Off Outflows, Reach Record Highs
The price of gold crossed its all-time high on Tuesday, pushing gold ETFs higher. Touching nearly $2,140 in morning trading, the price of an ounce of gold surpassed its previous high of $2,135 set in intra-day trading on Dec. 4. The SPDR Gold Trust (GLD) and the iShares Gold Trust (IAU) were last trading with gains of 3% on a year-to-date basis. While a far cry from the returns that spot bitcoin ETFs are delivering this year—the iShares Bitcoin ETF (IBIT) is up more than 40% as BTC's price crossed its all-time high of $69,000 Tuesday morning—contrary to popular belief, bitcoin’s gain doesn’t necessarily have ... (full story)