Deutsche Bank Launches Three Gold ETNs as Metal Hits Record Prices

Three more gold-focused products are hitting the marketplace – this time in the form of exchange traded notes (ETNs).

Deutsche Bank’s new line of ETNs are linked to the Deutsche Bank Liquid Commodity Index – Optimum Yield Gold:

• DB Gold Double Short (DZZ): Offers exposure to two times the monthly inverse performance of the index, plus a monthly T-Bill index return.
• DB Gold Double Long (DGP): Offers two times the monthly performance of the index, plus a monthly T-Bill index reutrn.
• DB Gold Short (DGZ): Offers the monthly inverse performance of the gold index, plus a monthly T-Bill index return.

The lineup is the first to offer investors the opportunity to gain short or leveraged exposure to gold.

The precious metal has been in the news increasingly frequently, as it keeps hitting new heights. Today, futures rose to an all-time high of $970 an ounce, owing largely to the dollar’s tumbling value, reports Polya Lesova at MarketWatch. The rising prices have kept the related exchange traded funds (ETFs) moving upward, as well:

• streetTRACKS GoldShares (GLD), up 15.1% year-to-date
• Market Vectors Gold Miners (GDX), up 15.9% year-to-date
• iShares COMEX Gold Trust (IAU), up 15.2% year-to-date