Exchange traded funds following U.S. stocks and precious metals were trading higher in Thursday’s premarket following the previous session’s drubbing. The dollar paused for breath after its recent spike due to rising worries over the Eurozone debt crisis.
Markets were awaiting several economic data points, including reports on weekly jobless claims, producer prices, New York manufacturing and the Philly Fed survey.
Precious metal bulls are looking for a bounce in gold and silver after their rout, with gold falling below $1,600 an ounce.
Holdings in bullion-backed gold ETFs rose to a record high of 2,360.81 metric tons on Wednesday, Bloomberg reported.
“The dollar has at least stopped rallying after what has been a rather large rally over the last few days,” said Ole Hansen, vice president of trading advisory at Saxo Bank A/S, in the article. Investors “will be keeping a close eye on ETF flows as the continued increase in investment there is supportive,” he said, noting any major outflows could “spell trouble.”
Here’s a look at the top ETF stories making the rounds online this morning:
- ETFs push traders into multi-asset world. [Traders Magazine]
- Jefferies to close a pair of ETFs. [Index Universe]
- ETF questions answered. [Professional Pensions]
- Why fees and diversification are critical. [USA Today]
- Dividend ETFs for 2012. [Daily Finance]
- Gold ETFs and the 200-day average. [ETF Trends]
- Gold ETFs crash after holdings reach all-time high. [ETF Trends]
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