Direxion will launch 2 leveraged gold ETFs on April 10


The Direxion Daily Gold Bull 3x Shares (GLDL) and Daily Gold Bear 3x Shares (GLDS) are two futures based ETFs that are built to return 300% of their respective benchmarks.

These funds will directly compete with VelocityShares 3x Long Gold ETN (UGLD) and 3x Inverse Gold ETN (DGLD), which were launched in October 2011.

While gold has rallied in 2014, UGLD has lost 68% since inception, while DGLD has returned 45% in the same time period.

Other gold ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GLL, DZZ, DGL, GLDI, DGZ, AGOL, TBAR, UBG, GLDE, GYEN, GEUR, GGBP

Comments (2)
  • gelstretch
    , contributor
    Comments (3505) | Send Message
     
    Gold Futures ( /GC ) often experience radical moves in both directions, unlike many other futures products, so these new 3x ultras will be able to offer some very exciting thrills.

     

    April 10 is very timely for the launch, as the Gold market is showing signs that a strong reversal is soon to become reality. Will need to watch the spreads for position costs, as new ETF launches are sometimes over reaching in spread differential ( market maker exuberance ).
    9 Apr 2014, 01:05 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11220) | Send Message
     
    Once they have options then I'll never need to go to Atlantic City again!!
    9 Apr 2014, 01:06 PM Reply Like
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