Exchange traded funds (ETFs) tracking gold and silver rallied in afternoon trading Wednesday following the Federal Reserve’s statement promising to hold its key interest rate close to zero.
The metals ETFs soared as investors awaited the start of a news conference with Fed Chairman Ben Bernanke, the first ever.
SPDR Gold Shares (NYSEArca: GLD) was up 1.4% at last check to a new record high. Also, iShares Silver Trust (NYSEArca: SLV) jumped over 4%.
Full disclosure: Tom Lydon’s clients own GLD and SLV.
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