Gold has been on a bit of a tear since early December, jumping more than 18%. Much of this gain has come from investors’ lack of faith in the ability of central banks around the world to get the global economy growing in a meaningful way. With negative interest rates becoming a possibility to a larger number of countries, investors are starting to look for places to park some of their excess cash, and for some, that is gold. While I’m not a gold bug per se, there may be some more room for bullion to move higher. Further, once growth does take hold, the possibility for inflation is also expected to grow, which would be another positive for gold. This ETF is a good way to gain exposure to gold. Given that gold trades in U.S. dollars, the currency exposure of the ETF is fully hedged. If you want to gain this exposure in an unhedged fashion, you may want to consider CGL.C. Alternatively, you could consider the Royal Canadian Mint Canadian Gold Reserves Exchange Traded Receipt (TSX: MNT), which is similar and carries a management fee of 0.35%. There is no currency hedging with this ETR.