Gold and copper finished the week at their highest levels in more than two months, sending the related exchange traded funds (ETFs) upward. Worry over high energy prices mixed with the weakening U.S. dollar continued to support gold prices, while a healthy demand for copper with expectations for growth in consumption lifted the metal, reports Myra Sarong of Market Watch. Gold closed at $684.70 an ounce. Copper gained 3.1% for the week and silver rose 2.2%.
ETFs that focus on these metals include:
- street Tracks Gold Trust (GLD) – up 2.4% for the week
- iShares CO MEX Gold (IAU) – up 2.5% for the week
- PowerShares DB Gold (DGL) – up 2.3% for the week
- iShares Silver (SLV) – up 2.2% for the week
- PowerShares DB Silver (DBS) – up 2.0% for the week
- PowerShares Base Metals (DBB) – up 3.4% for the week
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.