“The expectation that U.S. monetary easing will continue for a while even after the termination of the quantitative easing is still in the background, providing another reason to support gold,” said Tong Yang’s Park, in a Bloomberg report. [Gold ETFs Fall Below 50 Day Moving Average.]
SPDR Gold Shares (NYSEArca: GLD) was up 0.5% in premarket action Wednesday, while iShares Silver Trust (NYSEArca: SLV) rose more than 1%.
iShares Comex Gold Trust (NYSEArca: IAU)
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own SLV and GLD.