Gold On a Rollercoaster, Giving ETFs a Ride

Just when you thought it couldn’t go any higher, it sure can: gold soared to new heights on Thursday and once again took related exchange traded funds (ETFs) along with it.

In trading, gold hit $897.30 before settling at $893.60, according to Jackie Farwell of the Associated Press. Analysts say that gold could continue the zig-zagging in the weeks leading up to the Federal Reserve meeting at the end of this month, as investors go back and forth from euphoria to worry.

The gold ETFs are:

• Market Vectors Gold Miners (GDX)
• iShares COMEX Gold Trust (IAU)
• streetTRACKS Gold Shares (GLD)

For disclosure, some of Tom Lydon’s clients own GDX.