Even though some exchange traded funds (ETFs) have declined and the Dow Jones industrial average fell 250 points on Friday, some areas are prospering. Gold is one of them. Ashraf Laidi for TheStreet.com says that as the dollar continues to decline, gold will continue to benefit and could hit a high of $730. Currencies are another area that generally benefit from a weaker dollar. A few gold and currency ETFs to consider include:
- CurrencyShares Canadian Dollar (FXC)
- CurrencyShares Euro (FXE)
- streetTracks Gold Shares Fund (GLD)
- iShares Comex Gold Trust (IAU)
Read the disclosure, as Tom Lydon is a board member of Rydex Investments.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. 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.