Exchange traded funds (ETFs) had another solid day with Japan, Europe and Latin America ending Tuesday in positive territory. Carl Delfeld of ETFXRAY.com reports iShares MSCI Brazil Index (EWZ) was up 1.96%, B2B Internet HOLDRs (BHH) was up 1.94%, iShares MSCI South Africa Index (EZA) was up 1.74%. The iShares MSCI United Kingdom Index (EWU) and the PowerShares Lux Nanotech (PXN) were both up 1.72% for the day. Commodity, natural resources and homebuilding ETFs were down and the only country-specific ETF down was a small loss for the iShares MSCI Austria Index (EWO).
Utilities ETFs had another solid day indicating ETF investors are aggressively jumping back into international and technology ETFs, while at the same time building up some of their more defensive positions. Delfeld calls this the barbell strategy – where investors split their portfolio into a capital preservation portfolio and a capital growth portfolio.
Gold closed near a three week high and the iShares Silver Trust (SLV) was up 1.18% for the day. Rising global industrial demand and rising investment demand is starting to have a real impact on silver prices.
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