Exchange traded funds that profit from falling gold prices have seen trading volume increase as the precious metal tops $1,900 an ounce, a new record.

Investors can use these ETFs to speculate on gold pullbacks, or to hedge a long position in bullion.

Wells Fargo recently stated that the gold market is in a “bubble that is poised to burst” due to speculative demand. [Wells Fargo Warns on Gold Bubble]

Of course, trying to call a top in gold prices has been like standing in the path of a freight train in recent years. [The Contrarian: Short Gold with ETFs?]

Still, traders who want to make bearish bets against gold can tap exchange traded products such as PowerShares DB Gold Double Short ETN (NYSEArca: DZZ), ProShares Ultrashort Gold ETF (NYSEArca: GLL) and PowerShares DB Gold Short ETN (NYSE Arca: DGZ).

Some technical analysts note that gold is nearing key channel and Fibonacci resistance.

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