Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Amazon Gold Ventures: Precious Metals, Miner ETFs off to Strong Start

By Amazongold Subscribe to RSS | January 23rd 2012 | Views:
loading
 
  



January 3rd at 2:06pm by John Spence

Exchange traded funds that invest in silver were the top performers among unleveraged ETFs on Tuesday as funds indexed to gold and miner stocks also burst out of the gate to start 2012.

The iShares Silver Trust (NYSEArca:SLV), PowerShares DB Silver Fund (NYSEArca: DBS) and ETFS Physical Silver Shares (NYSEArca: SIVR) all gained 7% in afternoon trading Tuesday. Silver saw its largest one-day percentage jump in over three years, according to reports.

Meanwhile, SPDR Gold Shares (NYSEArca: GLD) added 2.4% while Market Vectors Gold Miners (NYSEArca: GDX) rallied 3.7%.

Precious metal and miner ETFs stumbled into the end of 2011 but surged on the first trading day of the new year. [Gold Miner ETFs Hit Low]

The rally carried the gold bullion ETF to within striking distance of its 200-day moving average. Gold prices also climbed back above $1,600 an ounce.

Gold rebounded after sentiment on the metal fell to the lowest readings in about three years, leading some to conclude gold was oversold. Last week, MarketVane’s Bullish Consensus for gold fell to 56%, the lowest since Dec. 5, 2008, according to a MarketWatch report.

A weaker dollar also provided a tailwind for precious metals – PowerShares DB US Dollar Bullish (NYSEArca: UUP) slipped 1% on Tuesday. [Euro Shorts Squeezed as ETFs Jump]

“The first levels for gold are the round number, $1,600, and above that the resistance is provided by what was formerly the support, which is the 200-day moving average which is around $1,630,” Credit Suisse analyst Tom Kendall said in a Reuters report.

The gold ETF gained about 10% in 2011.

SPDR Gold Shares

Full disclosure: Tom Lydon’s clients own GLD and SLV.

Full disclosure: John Spence owns ZSL.

Amazongold - About Author:
Amazon Gold Ventures Precious Metals News and Commentary provides timely news and commentary on precious metals. Besides gold and silver, this also includes platinum, palladium and others.
Our coverage includes precious metals prices, market data, and important developments. Articles are written by a number of different contributors or from different new available online.
View the terms of service and privacy policy for our site. If you have any comments or questions, please email us at info@amazongold-ventures.com

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/amazon-gold-ventures-precious-metals-miner-etfs-off-to-strong-start.htm

Related Business Articles Subscribe to RSS

Keep yourself posted with the latest world news
Published by Nidhigupta on June 28th 2012 | Business
Today, any kind of top world news is made available to you at your doorstep thanks to the latest inn...
 
The advantages and drawbacks of entertainment news
Published by Nidhigupta on July 6th 2012 | Business
Today news is considered and is indeed a very strong and the most popular weapon which is used by th...
 
Understand India with latest India news
Published by Nidhigupta on July 20th 2012 | Business
India is a vast country with more than one hundred million of human population. The possibilities of...
 
The upsetting breaking news for India
Published by Nidhigupta on July 23rd 2012 | Business
In this competitive world, it has become compulsory to keep ourselves updated with all the current e...
 
Get updated with latest India news
Published by Nidhigupta on July 18th 2012 | Business
India breaking news can also be viewed from abroad where many Indian live or pay a trip to. They can...
 
How to start real estate news letter
Published by Dany on April 19th 2012 | Business
Real estate news letter is considered to be an effective advertising and marketing tool for real est...
 
Acquaint yourselves with news headlines in the comfort of your home
Published by Nidhigupta on July 7th 2012 | Business
Most of the people prefer referring to news headlines on the television. There are ample to televisi...
 
Competitive world needs global news
Published by Nidhigupta on May 26th 2012 | Business
Awareness about what is happening in our country or the world can be done only through various types...
 
The progress India news today has made
Published by Nidhigupta on June 20th 2012 | Business
India, as we all know, is a very unpredictable country. Anything can happen anywhere and at anytime....
 
Growing popularity of India news
Published by Nidhigupta on May 16th 2012 | Business
In India, financial market is continuously growing. It is in rhythm of the recession's leftovers. In...
 
The importance of state news in India
Published by Nidhigupta on June 19th 2012 | Business
News keeps us updated with the most recent and current affairs and events that are taking place all ...
 
Get newfangled current news online
Published by Nidhigupta on July 5th 2012 | Business
News can be state level news, national news and international news as well. A lot of people cling li...
 
Get International news on Internet
Published by Nidhigupta on June 19th 2012 | Business
Due to the new innovations in technology, the world is coming closer. What is happening globally and...
 
Need to consult an experienced distribution company to publish industry news releases
Published by Andersonclark on February 6th 2012 | Business
Online has been preferred for publishing business or industry news, simply because the news will spr...
 
The shameful and terrible India latest news
Published by Nidhigupta on July 11th 2012 | Business
It is not a hidden fact, that India has a huge population. Thus, with such big population it is obvi...
 
Get yourself updated with the most recent and current news
Published by Nidhigupta on May 31st 2012 | Business
Today news is the most important source of communication. People are keen on knowing what is happeni...
 
The benefits and drawbacks of international news
Published by Nidhigupta on July 7th 2012 | Business
International news is projected in different countries in different languages. There are various tel...
 
India news gaining lot of attention
Published by Nidhigupta on May 3rd 2012 | Business
Many people might consider India to be a country of the third world. However, very quick development...
 
Hot off the fire Bihar news
Published by Nidhigupta on June 15th 2012 | Business
Bihar lies in the eastern part of India. It is one of the oldest inhabited places in the world. It i...
 
The progress of state news of India
Published by Nidhigupta on June 12th 2012 | Business
News, as we all know keeps us updated with the most recent and current affairs that are taking place...