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Why has Gold been removed as a benchmark?

Why has GLD been removed as a benchmark? It used to be there until a few weeks ago.

Sep 4, 2022 1:27:36 PM       
Re: Why has Gold been removed as a benchmark?

Gold(GLD) was not in the benchmark list. It is in the list of hedge vehicles on the Hedge tab in simulations and live strategies - maybe that is where you remember seeing it. "S&P 1500 Gold" is available as a benchmark, but that represents gold stocks and not the commodity gold.

Dan Parquette
Portfolio123 Staff

Sep 6, 2022 6:39:25 PM       
Re: Why has Gold been removed as a benchmark?

GLD should be available as a benchmark so that a gold trading strategy can be compared to the performance of GLD.

"S&P 1500 Gold" is not useful as a benchmark because there are only two gold stocks in the S&P 1500, RGLD Royal Gold, Inc. and NEM Newmont Corp.

The MktCap of NEM is about 6 times that of RGLD, making "S&P 1500 Gold" just a proxy for NEM. So what's the use of this BM?

Sep 7, 2022 2:26:34 PM       
Edit 1 times, last edit by geov at Sep 7, 2022 2:30:14 PM