Spot gold prices surged to $1,218 an ounce on Wednesday, hitting a six-week high before easing somewhat. SPDR Gold Shares (GLD), the $27.89 billion ETF tracking bullion, gapped up 2%. The $5.31 billion iShares Silver Trust (SLV) also gapped up, surging 3.4% to retake its 200-day moving average line. So why did the yellow metal suddenly shoot up by over $20 in one day? The gains came on disappointing jobs data Tuesday that caused the U.S. dollar to
Wednesday 13 May 2015
Gold, Silver ETFs Surge As Dollar Nears 3-Month Low
Otmane El Rhazi from Investor's Business Daily - ETFs RSS.
Spot gold prices surged to $1,218 an ounce on Wednesday, hitting a six-week high before easing somewhat. SPDR Gold Shares (GLD), the $27.89 billion ETF tracking bullion, gapped up 2%. The $5.31 billion iShares Silver Trust (SLV) also gapped up, surging 3.4% to retake its 200-day moving average line. So why did the yellow metal suddenly shoot up by over $20 in one day? The gains came on disappointing jobs data Tuesday that caused the U.S. dollar to
Spot gold prices surged to $1,218 an ounce on Wednesday, hitting a six-week high before easing somewhat. SPDR Gold Shares (GLD), the $27.89 billion ETF tracking bullion, gapped up 2%. The $5.31 billion iShares Silver Trust (SLV) also gapped up, surging 3.4% to retake its 200-day moving average line. So why did the yellow metal suddenly shoot up by over $20 in one day? The gains came on disappointing jobs data Tuesday that caused the U.S. dollar to
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