Gold ETFs Lie At the End of the Rainbow

March 17, 2008 at 1:00 pm by Tom Lydon

Leprechaungoldinverted Aye, laddie. Lookin’ for a pot of gold at the end of the rainbow via an exchange traded fund (ETF) this St. Patrick’s Day, are ye?

Okay, we’ll stop with the accent.

It turns out that although gold futures briefly hit a new record this morning, at $1,033 an ounce, reports Pham-Duy Nguyen for Bloomberg, gold-related ETFs aren’t feeling the love this jovial holiday.

Market Vectors Gold Miners (GDX) was down 3% intraday, while streetTRACKS Gold Shares (GLD) was up just slightly and iShares COMEX Gold Trust (IAU) was down a hair. Overall, these funds have been very strong for awhile now because of the high price of gold.

Z_2

If you got in on the gold rush before the prices really began to soar, you could probably spring for a round or two tonight at the bar.

Meanwhile, we’re still waiting for an Ireland ETF. The only way to access the Emerald Isle at the moment is through the New Ireland Fund (IRL), a closed end fund (CEF).

Tags |

Subscribe

Enter your e-mail address below to sign up for our free e-mail newsletter, the Daily Market Update. We will never share your e-mail address with third parties.

1 Comments For This Post

  1. Fergal Foley Says:

    There is an ETF of the top 20 shares listed on the Irish market, its called the ISEQ Exchange Traded Fund Plc.

    http://www.ise.ie/app/etfdetails.asp?equity=26940

Leave a Reply

iMoney

ETF Trends' new book iMoney is now available. Click here for details.

    • Ultra PowerX ETF: I love all the ETF variety that’s coming out lately, but I want more!!! Somebody please help...
    • Jack Russell: nice work Jack
    • Tom Lydon: Yes, sbenard, generally that is true that an index’s existence doesn’t mean there will be an...
    • sbenard: I confess I’m a fan of Jim Rogers. He one of the most no-nonsense investors I know. But unless I read...
    • Odd Lot: Great post, Tom, and I totally agree that there is going to be an ETF explosion in 401k’s over the...