Monday, 29 October 2012

Benchmark of Precious Metal Mining ETFs

A first glance: year-to-date graphs of :

  1. GDX, Van Eck's large-cap Gold Mining ETF,
  2. GDXJ, Van Eck's junior Gold Mining ETF,
  3. SIL, the Global X Silver Mining ETF,
  4. GLDX, the Global X Gold Explorer ETF.

Friday, 12 October 2012

Who is talking silver down?

From its 2012 bottom level to the $35 attained intraday, silver has rallied over 32%. This is almost the double of the mere 17% gold rallied from its $1537.5 bottom (LME fix) to an intraday close to $1800. Yet in a different perspective, gold is currently quoting at less than 10% below its all time high, while silver needs another 30% rally before coming close to its April 2011 peak level.

But again, in this kind of game, it's not long term trends that count and even less fundamentals. For short term gain, only short term moves are of any importance. On two consecutive occasions, Daniela Cambone of Kitco News, hints at rumors on an imminent correction for silver.