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Commodities

Won Strength Boosts Currency-Hedged Gold Funds by 3 Percentage Points

Guavy AI Editorial Team
Instruments
Gold
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The recent performance of gold and silver exchange-traded funds (ETFs) revealed an interesting phenomenon. While spot gold funds returned around 5% in August, currency-hedged gold futures ETFs gained 8.4%, a gap of about 3 percentage points.

This disparity can be attributed to the strengthening Korean won, which boosted the performance of products tied to international prices. Currency-hedging instruments helped reduce the impact of a weaker dollar on these funds.

The currency-hedged gold futures ETF KODEX Gold Futures(H) rose 8.41% in August, outperforming domestic spot gold ETFs like ACE KRX Gold Spot and TIGER KRX Gold Spot by about 3.2 percentage points.

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