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  • Gold Rush 0 comments
    Feb 21, 2012 11:11 AM | about stocks: GLD, AGQ, IAU, CEF
    This morning, the precious metals are trading sharply higher. The catalyst for the advance in gold, and silver is the weaker U.S. Dollar Index, and the pledge by central banks to keep easy money available. Last night, the People Bank of China (Chinese central bank) cut reserve requirements for lenders. This is just another example of easy credit. All of these similar actions by the central banks around the world are inflationary and that is exactly what gold and most other precious metals are saying to us today.

    This morning, the SPDR Gold Shares (NYSEARCA:GLD) is trading higher by $3.25 to $170.60 a share. Other precious metal ETF's that are trading higher today include ProShares Ultra Silver ETF (NYSEARCA:AGQ), Central Fund of Canada Limited (NYSEAMEX:CEF), and the iShares Gold Trust ETF (NYSEARCA:IAU). Traders and investors should continue to follow the U.S. Dollar Index as a weaker dollar will usually inflate these equities higher.

    Nicholas Santiago

    Stocks: GLD, AGQ, IAU, CEF
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