Trading in the Precious Metals space continues to interest us heading into year end with Gold notably gapping higher this morning, with GLD (SPDR Gold Trust, Expense Ratio 0.40%) rising above its 50 day MA for the first time in two weeks.
The fund has seen more than $3 billion leave in 2014, leaving it an asset base of approximately $27 billion, more than 4 times the size of the second largest ETF in the segment IAU (iShares Gold Trust, Expense Ratio 0.25%) which has $6.1 billion in AUM.
The next biggest ETF in the category in terms of asset size is SLV (iShares Silver Trust, Expense Ratio 0.50%) which has had a prosperous year in terms of attracting new assets (+>$250 million), and has grown to $5.2 billion fund. Silver and Platinum also appear to be rallying substantially in sympathy with Gold this morning, so our eyes are also on PPLT (ETFS Physical Platinum Shares, Expense Ratio 0.60%).
With metals on the move higher this morning UGL (ProShares Ultra Gold, Expense Ratio 0.95%) and GLL (ProShares UltraShort Gold, Expense Ratio 0.95%) will likely be in heavy focus, as well as AGQ (ProShares Ultra Silver, Expense Ratio 0.95%) and ZSL (ProShares UltraShort Silver, Expense Ratio 0.95%).
In fact, AGQ is actually the third largest Leveraged Commodity ETF in the U.S. listed landscape currently with more than $286 million in AUM, larger than either the Bull or Bear leveraged Gold strategies.