Absa NewGold ETF investors hit windfall as metal price Surge

Key Takeaways

• The Absa NewGold ETF at the Nairobi Securities Exchange (NSE) is attracting significant investor interest due to a surge in global spot gold prices, which hit a record high above $5,000 per ounce.
• The ETF's share price gained 9.64% year-to-date, closing at KSh 6,095.00, benefiting both institutional and retail investors seeking safe-haven assets.
• Analysts attribute the gold rally to increasing global geopolitical tensions and uncertainties, particularly referencing actions by US President Donald Trump.
• Gold is viewed as a crucial wealth protector against inflation, with analysts forecasting its price to potentially climb to $6,000 this year and up to $7,150 in 2026 amidst ongoing global instability.