We also note that GLD and SLV were among the top 10 ETFs for daily redemptions on Tuesday as assets clearly were flowing out of lon- based precious metals funds, and into other areas of the market, including products that offer potential short exposure to the metals themselves.
PowerShares DB Gold Double Short ETN
Chart source: StockCharts.com.
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Full disclosure: Tom Lydon’s clients own GLD and SLV.