ETF Performance Report December 2024

Overall global equities edged lower in December as the MSCI World Index declined 2.7% month-on-month (MoM) to 3,707.84pts, reversing +4.5% MoM gain in November. This was attributed to fears of a renewed trade war as U.S President-elect Donald Trump threatened to impose additional tariffs onto China and other countries. Despite the US Federal Reserve trimming its benchmark interest rate by 25bps in mid-Dec, global equities trended downwards after the central bank signalled two rate cuts in 2025, fewer than the four rate cuts in previous projections. 

Fuelled by the continuous strengthening of the US dollar alongside uncertainties surrounding the pace of the Fed’s rate cut, the LBMA Gold Price AM trended lower by 2.0% MoM to USD2,610.85 per troy ounce, while GOLDETF’s total volume / value declined 34% and 33% MoM to 970K units / RM3.6 mil respectively.