For investors seeking momentum, U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU Quick QuoteGOAU - Free Report) is probably on the radar. The fund just hit a 52-week high and has moved up 45.5% from its 52-week low of $16.93 per share. 

Are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed: 

GOAU in Focus

The U.S. Global Go Gold and Precious Metal Miners Index consists of the common stock or ADRs of Precious Metals Companies across the globe that earn at least 50 percent of their aggregate revenue from precious metals through mining or production; or owning royalties or production streams. GOAU charges investors 60 bps in annual fees (see: all the Precious Metals ETFs here).

Why the Move?

Gold has been an area to watch lately, given that the metal has been on an unstoppable rally, buoyed by strong safe-haven demand amid rising trade tariffs and escalating geopolitical tensions. The Fed’s signal of potential rate cuts this year added further shine to the yellow metal, pushing gold ETFs higher. Note that gold mining stocks act as leveraged plays on the metal gold.

More Gains Ahead? 

The ETF CLOU might continue its strong performance in the near term, with a positive weighted alpha of 37.73, which gives cues of a further rally.