ETF Trends
ETF Trends

The Dow Jones Industrial Average slipped over 100 points on Wednesday but the sharpest decliners in exchange traded funds tracked gold and commodities, while the U.S. dollar continued to strengthen.

Gold futures lost about $90 an ounce as the precious metal dropped below $1,600 an ounce and its 200-day moving average.

The iShares Gold Trust (NYSEArca: IAU) was down 3.4% in midday trading. [Gold ETFs Face Critical Test]

Oil was also sharply lower Wednesday on European liquidity fears and after the Federal Reserve disappointed investors looking for further easing from the central bank. U.S. Oil Fund (NYSEArca: USO) fell 4.1%.

Yet silver ETFs were suffering the steepest declines in the commodity complex as iShares Silver Trust (NYSEArca: SLV) dropped 6.3% at last check.

Miner ETFs were feeling the heat as well. Market Vectors Gold Miners (NYSEArca: GDX) fell 2.8% and Global X Silver Miners (NYSEArca: SIL) slid 5%. [Miner ETFs Fall Harder Than Gold]

iShares Gold Trust

Full disclosure: Tom Lydon’s clients own SLV.

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.