Double Short Gold ETF (DZZ) Surges On Massive Gold Slide
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Speculative bets on more downside in gold is rising as suggested by the massive move and large volume in PowerShares DB Gold Double Short ETN (NYSE: DZZ).
The ETF which bets on downside in gold is up 9 percent today on volume that is already 7x normal.
The precious metal is currently down $97.30.
Other short gold ETFs are also seeing action: ProShares UltraShort Gold (NYSE: GLL), ProShares UltraShort Silver (NYSE: ZSL), PowerShares DB Gold Short ETN (NYSE: DGZ).
The ETF which bets on downside in gold is up 9 percent today on volume that is already 7x normal.
The precious metal is currently down $97.30.
Other short gold ETFs are also seeing action: ProShares UltraShort Gold (NYSE: GLL), ProShares UltraShort Silver (NYSE: ZSL), PowerShares DB Gold Short ETN (NYSE: DGZ).
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