Precious-metals exchange traded funds (ETFs) were set to finish the week strong as gold climbed to a new record high while silver rose above $40 an ounce before Friday’s opening bell.
Gold was trading above $1,470 an ounce on Friday morning and SPDR Gold Shares (NYSEArca: GLD) added 0.5% in premarket. Also before the opening bell, iShares Silver Trust (NYSEArca: SLV) rose more than 1%.
The silver ETF is up nearly 30% so far this year on worries over Europe’s sovereign-debt challenges and turmoil in the Middle East and North Africa.
iShares Silver Trust
SPDR Gold Shares, meanwhile, was trading above $143 a share for the first time in preopen trade Friday.
SPDR Gold Shares
For full disclosure, Tom Lydon’s clients own SLV and GLD.