Metal and agriculture exchange traded funds (ETFs) retained their bounce today, refusing to be brought down in the wake of bad news from other sectors such as financials, consumer and housing.
Last week, there was a commodities selloff, but the sector appears to be performing well enough early this week that it calmed fears that a commodity blow-up was around the corner, reports Ellis Mnyandu for Reuters.
Among the ETFs that took part in the rally:
- streetTRACKS Gold Shares (GLD), up 2.9%
- Market Vectors Gold Miners (GDX), up 4.4%
- PowerShares DB Agriculture (DBA), up 2.4%
- iShares Silver Trust (SLV), up 5.9%
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.