Strong earnings reports from key companies in the Green Economy sparked a rally in the NASDAQ OMX Green Economy Index (QGREEN) this week, leading equities markets higher. Meanwhile, silver and gold remained under pressure with the PHLX Gold/Silver Sector Index (XAU), a measure of gold and silver mining stocks, dropping 3.8%.
”Precious metals have experienced volatile trading this week, dropping to its lowest level in two and a half years,” said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes. “Changing inflation expectations and sustained strength in the U.S. Dollar has curbed the demand for gold and silver as a long-term investment vehicle.”
For a look at the top weekly index movers, top five equity indexes, top five commodity indexes and other notable index moves, click here.
Today, March 28, 2013, is the 10th anniversary of the 1st ever Gold ETP. Since the first one debuted in 2003, Gold prices have risen 376% - an outstanding mark compared to the performance of most equities over the same period.
There are now over 50 physically backed gold ETPs in existence that trade around $2 billion per day on global exchanges. Gold ETPs have opened up the investing world in many ways: allowing investors to “own” physical gold without spreads and entry/exit charges, bringing commodity and equity markets together, and establishing uncorrelated returns.
Recently Gold ETPs have been experiencing record outflows, which has brought to market many short and leveraged Gold ETPs to help leverage the volatility. Two of these are the Boost Gold 3x Leverage Daily ETP (3GOL) and the Boost Gold 3x Short Daily ETP (3GOS), both of which track to the NASDAQ Commodity Gold Index (NQCIGCER).
Visit the NASDAQ Commodities Gold Index page or the Boost ETP page to learn more.
Source: Boost ETP
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