The international gold price has surpassed $3,000 per ounce, continuously hitting record highs. As the tariff war led by the United States spreads worldwide, investment demand for gold, a safe-haven asset, has significantly increased. Amid ongoing preference for safe assets, gold futures exchange-traded funds (ETFs), which offer easier access to gold investment than direct physical gold investment, are gaining attention.
Samsung Asset Management announced on the 19th that the ‘KODEX Gold Futures (H) ETF’ has achieved a return of 13.4% since the beginning of the year. Its 1-year and 5-year returns recorded 33.5% and 66.6%, respectively.
The KODEX Gold Futures (H) ETF tracks the S&P GSCI Gold Index Total Return, a gold futures index listed on the New York Mercantile Exchange (NYMEX) in the United States. This index is recognized as a global standard for measuring commodity investment performance and is highly trusted.
Following the tariff war’s impact, the dollar has weakened since the end of last month. Even if gold prices rise, a falling dollar value can reduce the actual returns for domestic investors. The KODEX Gold Futures (H) ETF is designed to minimize such volatility through currency hedging, allowing more direct investment in the recently strong gold market. In fact, the KRW/USD exchange rate dropped from 1,462 won at the end of last month to 1,450 won recently.
Although domestic gold prices have fallen as the ‘Kimchi Premium’ was resolved, the prevailing outlook is that the upward trend will continue in the long term. As global economic uncertainty grows and preference for safe assets persists, various gold ETFs targeting investors are also gaining popularity.
Recently, the gold spot ETF experienced a correction phase after the ‘Kimchi Premium’?where domestic prices were higher than international prices?appeared and then dissipated. This is interpreted as a process where domestic gold demand surged sharply, causing abnormal price increases before returning to normal. In contrast, global gold prices continue a stable upward trend. Gold futures prices traded in the U.S. market are formed at more reasonable levels.
Kim Sun-hwa, head of the ETF Management Team 2 at Samsung Asset Management, said, "As gold prices recently hit record highs, investor interest is growing even more," and introduced, "The KODEX Gold Futures (H) ETF is linked to U.S. gold futures prices." She added, "It allows investment without being affected by short-term volatility or premiums in the domestic market," and stated, "It will be an optimal investment product to invest in rising gold prices without the burden of holding physical gold."
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