From NBCUniversal: 2024-09-21 11:00:01

VanEck CEO Jan van Eck believes the best investment this year is in gold, which quietly became the best performing asset. Gold hit another record on Friday, up 28% since the start of the year. VanEck expects foreign investments in bullion to continue boosting gold and gold miners.

On the other hand, investors are still heavily focused on the artificial intelligence trade despite the success of gold. VanEck launched the VanEck Fabless Semiconductor ETF last month, excluding companies that run their own foundries like Intel. The ETF’s top holdings include Nvidia, Broadcom, and AMD.

Despite the dominance of the AI trade, VanEck believes in the potential of investing in companies that do not build their own chips, like Nvidia. Since launching in August, the VanEck Fabless Semiconductor ETF is up half a percent, showing promise for a different investment strategy.

Read more: Hedge against political cycles is better investment than AI: Van Eck