Stock exchange traded funds were set for a higher open Wednesday while gold ETFs were also on track to climb as the precious metal’s price rose to a new record.
The SPDR S&P 500 ETF (NYSEArca: SPY) was up 0.6% in premarket trading. The largest gold ETF, SPDR Gold Shares (NYSEArca: GLD), was fractionally higher as well.
Gold futures rose to a fresh record high to nearly $1,458 an ounce, WSJ.com reported.
Crude futures traded above $108 a barrel. Coming into Wednesday’s session, U.S. Oil Fund (NYSEArca: USO) was up about 12% over the previous three months.
In currency markets, the euro rose to a 15-month high against the dollar on talk the European Central Bank will boost interest rates, the AP reported. CurrencyShares Euro Trust (NYSEArca: FXE) rose roughly 6% in the first quarter. [Euro’s Record First Quarter Buoys Currency ETFs.]
For full disclosure, Tom Lydon’s clients own GLD.