NH-Amundi (Amundi) Asset Management said on the 10th that the annual revenue rate of its exchange-traded fund (ETF) "HANARO Global Gold Mining Companies" has outperformed the rise in gold prices both domestically and internationally.
According to Koscom ETF CHECK, the year-to-date increase rate of the HANARO Global Gold Mining Companies ETF as of the 8th is 42.09%. During the same period, international gold prices rose by 25.59%, and domestic gold prices increased by 16.47%, indicating better performance.
The HANARO Global Gold Mining Companies ETF invests in global gold mining corporations. The underlying assets include ▲Newmont ▲Agnico Eagle Mines ▲Barrick Mining, among others. The fact that mining costs have not risen significantly, unlike gold prices, has contributed to the profitability of these corporations.
The average gold selling price of the three companies, Newmont, Agnico Eagle Mines, and Barrick Mining, increased by 27% from $1,949 per ounce in 2023 to $2,483 last year, while the All-In Sustaining Cost (AISC), which refers to the cost of gold mining, rose by only 6% during the same period. In the first quarter of this year (January to March), while the average gold selling price jumped to $2,893 with a 17% increase, the AISC increase rate of 10% remained relatively low.
NH-Amundi (Amundi) Asset Management predicted that gold prices will rise in the second half of this year, fueled by geopolitical uncertainties, while mining expenses are expected to remain stable.
Kim Seung-cheol, head of the ETF Investment Division at NH-Amundi Asset Management, noted, "Since the profitability of gold mining corporations is expected to improve this year, investors looking to actively invest in rising gold prices should pay attention to gold mining corporations."