Some gold investors quickly picked up on the GEUR trade as well, with the Gold/Euro ETF trading volume up to 65,000 late Friday, or more than 10 times its average daily volume, according to Morningstar data.
Looking at the futures market, COMEX gold traded down 0.7% to $1,291.6 per ounce late Friday, whereas Euro Spot gold rose 0.5% to €1,151.1 per ounce.
AdvisorShares Gartman Gold/Euro ETF
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Full disclosure: Tom Lydon’s clients own shares of GLD.