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South African ETFs: Gold vs. equities

Posted on 29 November 2012

As the fourth-largest producer of gold in the world, the fortunes of the South African economy are often viewed as hitched to the performance of the yellow metal itself. When it comes to ETFs, the correlations between gold and South African equities are not always as intimate as some investors think.
For example, in the past month, the iShares MSCI South Africa Index Fund (EZA) has slumped 0.7% while the SPDR Gold Shares (GLD) is higher by 0.2%. That indicates that EZA does not always move in lockstep with gold futures………………………………………..Full Article: Source


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