The ongoing political drama in the U.S. has also weighed on the U.S. dollar, which helped support the gold outlook. With traders remaining skeptical that this week’s Federal Reserve meeting would do much to alter the recent weakness, gold has maintained its recent strength.
Moreover, in the face of a stronger dollar and speculation that the Federal Reserve could raise interest rates over the mid- and long-term, gold prices could still move modestly higher with some help from increased demand out of the emerging markets, namely China and India.
Investors who are interested in following the gold market have a number exchange traded products to choose from.
- SPDR Gold Shares (NYSEArca: GLD)
- iShares Gold Trust (NYSEArca: IAU)
- U.S. Global GO GOLD and Precious Metal Miners ETF (NYSEArca: GOAU)
- ETFS Physical Swiss Gold Shares ETF (NYSEArca: SGOL)
- Van Eck Merk Gold Trust (NYSE Arca: OUNZ)
- AdvisorShares Gartman Gold/Yen ETF (NYSEArca: GYEN)
- ETRACS CMCI Gold ETN (NYSEArca: UBG)
- AdvisorShares Gartman Gold/Euro ETF (NYSEArca: GEUR)
- SPDR Long Dollar Gold Trust (NYSEArca: GLDW)
- REX Gold Hedged S&P 500 ETF (NYSEArca: GHS)
Leveraged/inverse gold ETPs:
- DB Gold Double Long ETN (NYSEArca: DGP)
- ProShares Ultra Gold ETF (NYSEArca: UGL)
- ProShares UltraShort Gold ETF (NYSEArca: GLL)
- VelocityShares 3x Long Gold ETN (NYSEArca: UGLD)
- DB Gold Double Short ETN (NYSEArca: DZZ)
- DB Gold Short ETN (NYSEArca: DGZ)
- VelocityShares 3x Inverse Gold ETN (NYSEArca: DGLD)
For more information on gold, visit our gold category.