Notable ETF Movers of the Day 12/04: (OIH) Higher; (SLV) (KBE) Lower

December 4, 2012 2:15 PM EST

Market Vectors Oil Services ETF (NYSE: OIH) gained 1 percent to 39.9. Noble Corp. (NYSE: NE) was among today's winners gained 4.5 percent after CEO David Williams gave a presentation Dahlman Rose & Co. Ultimate Oil Services & Drilling Conference in New York City.


iShares Silver Trust (NYSE: SLV) declined 2.3 percent to 31.8. As a whole, precious metals found little love today, with gold, silver, platinum, and palladium all making moves to the downside. The price of spot silver tapped $33 per ounce, while gold took out levels at $1700 per ounce. Speculation surfaced that gold was trading as a 'risk asset' in the context of the so-called fiscal cliff in the U.S. While the connection between the fiscal cliff and a decline in metals remains dubious at best, uncertainty about the exact cause-effect relationship could be causing concern in some circles.

SPDR S&P Bank ETF (NYSE: KBE) declined 1.4 percent to 22.85. The declined focused on regional banks, with U.S. Bancorp (NYSE: USB) falling 1.8 percent. The decline is tied to aggressive talk on bank regulation, which could affect performance of banks as they become further mired in red tape. Investors are especially concerned by previous remarks by Senator Elizabeth Warren, who may get a seat on the Senate Banking committee.

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