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

Enjoy your morning tea with breaking news India
Published by Nidhigupta on June 25th 2012 | Business
The recent past events evidently show that India is a country where uncertain events happen. The ear...
 
UP news in the limelight
Published by Nidhigupta on June 21st 2012 | Business
UP news basically refers to the events and occurrences that take place all around in every part of t...
 
Stay informed about India news
Published by Nidhigupta on May 17th 2012 | Business
There are many leading and supporting web portals of news channels in Hindi online. There are many m...
 
The benefits of world news
Published by Nidhigupta on June 18th 2012 | Business
The world is coming closer and closer day by day thanks to the latest innovations in science and tec...
 
Game of Thrones dvd news and development
Published by Xiaojuan on November 29th 2011 | Business
The change in medium is going to bring about some change in people’s perception of a character. Sa...
 
The latest news that reflect poor conditions of mother earth
Published by Nidhigupta on July 19th 2012 | Business
However, the breaking news is not just limited to these natural calamities. Human still undertake m...
 
The world is inching closer thanks to the world news
Published by Nidhigupta on July 6th 2012 | Business
World news refers to the news which is international. It deals with the subjects and issues at an in...
 
Get the Unlimited latest news online
Published by Nidhigupta on June 22nd 2012 | Business
People have developed a general awakening amongst them and are very much interested in raising their...
 
Access latest entertainment news easily
Published by Nidhigupta on July 12th 2012 | Business
People are always interested to have news about the entertainment world. Who does not wish to have a...
 
Hot off the fire latest India news
Published by Nidhigupta on June 14th 2012 | Business
In India, people nowadays are very keen on knowing what is happening across their country. Every Ind...
 
Time to get the latest university news
Published by Gene Crayton on August 25th 2012 | Business
Education is a never-ending process. Each day you get to learn something new which may or may not be...
 
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...
 
Hot off the fire world breaking news
Published by Nidhu Gupta on June 16th 2012 | Business
It is very important for us to be aware of the happenings and events of the world. This can only be ...
 
Learn about various sources that feature breaking news India
Published by Nidhigupta on June 25th 2012 | Business
In India, people are willing to educate themselves with the most recent and latest news about the co...
 
KlikBang Money- the news source!
Published by Jamessms on March 15th 2012 | Business
Wish you had an amazing source of information that could keep you informed about possibly just anyth...
 
Connect to world with international news
Published by Nidhigupta on May 25th 2012 | Business
It is crucial for everyone in order to depend on day to use global news. We are able to acquire a gr...
 
Bollywood news- a boon or a disadvantage
Published by Nidhigupta on July 24th 2012 | Business
We are all fond of the bollywood celebrities and the spicy bollywood gupshup for which we are glued ...
 
The importance of online news
Published by Nidhigupta on June 27th 2012 | Business
News keeps us updated with the most recent events and happenings of the nation. Today news has emerg...
 
Now get the latest news online
Published by Nidhigupta on June 26th 2012 | Business
News, as we all know, is the most popular and leading medium used by the media to reach out to the m...
 
Different modes for receiving UP news
Published by Nidhigupta on July 9th 2012 | Business
All the events occurred in the state of Uttar Pradesh is covered by the UP news. UP news takes note ...