IndexUniverse.com
Print This Article

Sections

Silver Jumps 3%; Gold Moves Above Key 200-Day Moving Average
By Devon Layne | January 11, 2012

Related ETFs: FXE / SLV / UUP / GLD

Gold and silver advanced sharply on Tuesday, as the dollar weakened against the euro, according to an article on Barron’s.

The iShares Silver Trust (NYSEArca: SLV) and the SPDR Gold Shares (NYSEArca: GLD) physical bullion ETFs rose 3.8 percent and 1.5 percent, respectively, leading to a boost in shares of precious miners ETFs as well, the article said.

In addition, gold rose above its 200-day moving average reaching $1,635.50 a troy ounce.

Meanwhile, the PowerShares U.S. Dollar Bullish Fund (NYSEArca: UUP) fell 0.2 percent, while the CurrencyShares Euro ETF (NYSEArca: FXE) rose by .02 percent, perhaps because of the possibility of an agreement on tighter fiscal union in the eurozone, the report said.

Visit Barrons.com for the full story.