Gold, Silver Rise On Dollar Weakness (GLD, SLV)
More News related to ABX
- Gold Hit As Dubai Woes Sends Dollar Higher
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- Barrick Gold Sets Out Position on Bill C-300 and Provides Facts
- Central Banks Continue Snapping Up Gold, Sri Lanka Buys 10 Metric Tons From IMF
- Gold Moves Higher on Weak Dollar, Lower Commodities, Indian Reserve Bank Talk (GLD, ABX, GG, NEM, GDX)
More News related to AUY
- Gold Hit As Dubai Woes Sends Dollar Higher
- Central Banks Continue Snapping Up Gold, Sri Lanka Buys 10 Metric Tons From IMF
- Gold Higher On Reports India Could Buy the Rest of the IMF's Hoard (GLD)
- Canaccord Adams Raise Target on Yamana Gold (AUY) to $16.50
- Yamana Gold (AUY) volatility at 55 on $1135 gold
More News related to GDX
- Dubai Fallout ETF Trades
- Gold Hit As Dubai Woes Sends Dollar Higher
- Dubai Debt Woes Roil Markets
- Notable Late-Afternoon ETF Movers for 11/25: UNG, GDX, XRT Higher; UUP Lower
- Sign of the Times: U.S. Mint Has To Temporarily Suspend Sales of One Ounce Gold Coins Due to Demand
After eclipsing, then falling below the $1000 level earlier in the week, Gold is now above the key level again. Gold spot is at $1009.60, up from yesterday's close of $996.40. Silver is also higher, with the Spot Silver price last crossing at $16.89 - above yesterday's close of $16.67.
Contributing to the strength in the precious metals is the continued weakness in the Dollar Index.
In addition to the dollar weakness, a CitiFX analyst today said he expects Gold to rise to $1300 by the first quarter of 2010 and sees it eventually rising above $2,000.
Many have been gaining exposure to gold through ETF SPDR Gold Shares (NYSE: GLD) or through the miners as represented by Market Vectors Gold Miners ETF (NYSE: GDX), which seeks to replicate the price and yield performance of the NYSE Arca Gold Miners Index. Top holdings of the index include Barrick Gold (NYSE: ABX), Goldcorp (NYSE: GG), Newmont Mining (NYSE: NEM), Kinross Gold (NYSE: KGC), and Yamana Gold (NYSE: AUY). There is also a new gold ETF this week - ETFS Physical Swiss Gold Shares (NYSE: SGOL) - that traders are starting to use.
Silver exposure can be gained through ETF iShares Silver Trust (NYSE: SLV), or stocks like Silver Wheaton Corp. (NYSE: SLW) and Pan American Silver Corp. (Nasdaq: PAAS).
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