When ETFs were first introduced to the marketplace a decade ago, they opened up a whole new world of investment opportunities. Now New York-based Global X Funds has extended those opportunities even further. Tuesday, Global X launched the world’s first silver miner exchange-traded fund, Global X Silver Miners ETF (SIL).
The market had second thoughts about the positive implications of the euro zone loan and worries over the depth of Greece’s debt problems resurfaced this morning, putting the breaks on the precious metal mini bull-run.
Precious metals prices returned from Easter Break with a bang. Despite the dollar remaining in the green Wednesday, silver took direction from the industrial side of the market and, like gold, rose along with platinum, palladium and copper prices.
When precious metals prices got a boost from the dollar’s losses Monday, silver shot up nearly 3 percent while gold barely moved up less than a quarter percent from Friday. Silver’s industrial side is partly responsible for its continued outperformance of gold in the precious metals market.
Both Greece’s debt crisis and India’s inflation concerns are dollar supportive, putting downward pressure on silver prices.
Silver is showing it’s still very much tied to gold, tracking the yellow metal down on price chopping news out of China, the oil trade and the currency markets.
By Melissa Pistilli-Exclusive to Silver Investing News Currency markets are continuing to influence precious metals prices this week as gold and silver post gains after falling to new lows the past weeks. On Monday, gold managed to hold the critical $1100 an ounce level and silver traded sideways to close at $15.52 an ounce. Tuesday, [...]
By Melissa Pistilli-Exclusive to Silver Investing News Precious metals prices have taken a hit the past few market sessions as risk-averse sentiments overshadow any recent speculative fervor in commodities. On Thursday, President Barack Obama announced a set of new proposals to restrict banks or other financial institutions from dealing with hedge funds or private equity [...]
By Melissa Pistilli-Exclusive to Silver Investing News Precious metals prices were popping off of holiday lows Monday as traders returned to the markets. Gold had jumped as high as $1124 an ounce by 9:30am in New York and silver soared to $17.59 by 11am as a weaker dollar made the shiny cousins much more attractive. [...]
By Melissa Pistilli-Exclusive to Silver Investing News As was to be expected, action in the precious metals markets was rather slow over the holiday week. Gold saw little movement, while silver actually posted a few gains last week as the US dollar weakened. We can expect trading to remain light through New Year’s, however any [...]
Tuesday, April 20, 2010