ETF Performance Report October 2024

Overall global equities ended on a negative note in October, with the MSCI World Index reverting to a net loss position by closing 2.0% lower month-on-month (MoM) (versus +1.7% MoM in September) at 3,647.14pts. The weakened performance was mainly attributed to growing uncertainties surrounding the upcoming U.S presidential election in November and escalating geopolitical tensions occurring in the Middle East, which prompted investors to exercise a more cautious stance during the month.

With gold being seen as a safe haven during times of uncertainty, the LBMA Gold Price AM extended its gains by closing 4.9% higher MoM at USD2,779.40 per troy ounce. However, GOLDETF’s total volume / value declined by 38.8% MoM and 36.4% MoM to 394K units / RM1.4 mil respectively.