Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

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

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

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

Amazon Gold Ventures
Phillip Amazon
8th Street
6th Floor
Bentonville, Arkansas 72712
United States
+ 1 479 286-1101

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

Article Source:

Related Marketing Articles Subscribe to RSS

Getting news headlines easily
Published by Nidhigupta on May 4th 2012 | Business
People are well known that there are several types of topics along with sports and political news he...
Get the most recent breaking news online
Published by Nidhigupta on June 20th 2012 | Business
Online news keeps you posted with most recent occurrences which are occurring around the globe. Thus...
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...
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 progress online today news has made
Published by Nidhigupta on June 14th 2012 | Business
News is something that reaches out to each and everyone in the whole world. It is a very popular and...
How latest world news matters to every individual
Published by Nidhigupta on July 10th 2012 | Business
The importance of latest world news has now been understood by all. Every person after going through...
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...
World wide web features news headlines today
Published by Nidhigupta on May 17th 2012 | Business
Newspapers are a major source of information. Online news is also much in demand. News websites pla...
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...
Stay tuned to the latest India news
Published by Nidhigupta on June 21st 2012 | Business
Nowadays, breaking news has become a state of art. If not delivered fresh, it may become stale the ...
Hot updates about the latest India news
Published by Nidhigupta on June 15th 2012 | Business
In India, people have started developing a keenness for educating themselves with the most recent an...
The recent progress made by online news
Published by Nidhigupta on June 26th 2012 | Business
Latest news is the news that has occurred in the recent past i.e. recently. Information is the most ...
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...
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...
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...
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...
Helpful guidelines to write press releases on current business news
Published by Alva Grace on December 27th 2011 | Marketing
The success of a business depends not only on its products and services but also on its promotional ...
Impact of news in Punjab
Published by Nidhigupta on July 25th 2012 | Business
One of the basic necessities of the modern man: news. Not only it informs us about the happenings ta...
Online news is very beneficial
Published by Nidhigupta on June 12th 2012 | Business
Everyone today is keen on knowing about what is happening in their city, across their country, aroun...
Instant online access to latest news
Published by Nidhigupta on May 15th 2012 | Business
There are various exceptional features of news which a person would find. There are several features...