Mining ETFs such as Global X Silver Miners (NYSEArca: SIL) and Market Vectors Gold Miners (NYSEArca: GDX) have also been under pressure.
Still, gold traders are more bullish as holdings in exchange traded products backed by gold reached a record 2,350.8 metric tons on Nov. 23, now valued at $127.1 billion, Bloomberg reported Friday.
SPDR Gold Shares
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.