Gold prices are trading modestly lower Monday with the SPDR Gold Shares (NYSE: GLD), the world's largest exchange traded fund backed by physical holdings of bullion, down a quarter of a percent as traders wager whether the Federal Reserve will soon raise interest rates.
Widely consider to be a positive for the dollar, higher interest rates are viewed as the opposite for gold because the yellow metal, like other commodities, is priced in dollars meaning it is vulnerable to a stronger greenback. That much has proven over the past two years, but gold's sensitivity to speculation on the Fed's next move is not stopping miners ETFs, including leveraged funds, from following through today on last Friday's impressive showings.
Related Link: This ETF Is Begging Yellen To Raise Interest Rates
After surging more than 8 percent last Friday, the Market Vectors Gold Miners ETF (NYSE: GDX) was higher by nearly 4 percent at time of writing. Several other precious metals miners ETFs rank among Monday's top percentage gainers among ...
/www.benzinga.com/trading-ideas/long-ideas/15/10/5887849/bullish-leveraged-gold-miners-etfs-are-on-fire alt=Bullish Leveraged Gold Miners ETFs Are On Fire>Full story available on Benzinga.com
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